MULTI MONTH UPTREND, JUST BEGINNING [SAMCHEM]
After 3 months of consolidation, SAMCHEM is waking up and ROARING to start its new multi month BULL WAVE.
Its technical signals are all pointing towards a bullish uptrend that one should not miss out on.
For this posting, I will just focus on the technical aspects of the stock.
For the fundamentals of SAMCHEM, see previous posting dated 5th Jul 2021, titled
The current Weekly Technical indicators of SAMCHEM:
i) MACD Golden Cross above 0. Strongly suggests the start of a multi week / multi month uptrend
ii) Weekly candlestick closing formed a green hammer. Depicts that the buyers are greatly in control of the price and dominating sellers.
iii) Short term RSI > Mid term RSI. The strength of the uptrend is improving and gaining traction as more and more people begin to invest in SAMCHEM.
iv) Using the Fibonacci Extension tool (not shown in chart), an extension of 1.618 depicting the 3rd wave of the Elliot Wave would result in a peak of RM 2.04.
The key resistance for SAMCHEM to overcome is RM 0.94. After which it will be blue skies ahead for SAMCHEM for weeks and months to come. Good luck!
Please note that the final decision to buy/sell is yours. Thank you.
-FairTrades
Its technical signals are all pointing towards a bullish uptrend that one should not miss out on.
For this posting, I will just focus on the technical aspects of the stock.
For the fundamentals of SAMCHEM, see previous posting dated 5th Jul 2021, titled
The current Weekly Technical indicators of SAMCHEM:
i) MACD Golden Cross above 0. Strongly suggests the start of a multi week / multi month uptrend
ii) Weekly candlestick closing formed a green hammer. Depicts that the buyers are greatly in control of the price and dominating sellers.
iii) Short term RSI > Mid term RSI. The strength of the uptrend is improving and gaining traction as more and more people begin to invest in SAMCHEM.
iv) Using the Fibonacci Extension tool (not shown in chart), an extension of 1.618 depicting the 3rd wave of the Elliot Wave would result in a peak of RM 2.04.
The key resistance for SAMCHEM to overcome is RM 0.94. After which it will be blue skies ahead for SAMCHEM for weeks and months to come. Good luck!
Please note that the final decision to buy/sell is yours. Thank you.
-FairTrades
Trade active:
SAMCHEM will be attempting to break its All Time High (ATH) very soon. The common term that follows the breaking of an ATH is "Sky is the limit"
