adamkhoosk

SCGM VCP In Progress???

MYX:SCGM   SCGM BHD
Disclaimer: This is just a sharing purpose and not a buy call.

Seem like SCGM already gone through 2 contraction and 3rd contraction is in progress.
Volume also getting dryer compare to previous.

Strategy:
Waiting the 3rd contraction to develop.
Only consider to enter if the price able to stand firm back above MA50.
Enter point will be during it breakout the previous high.

Similar to previous Solution trade. Link is below.

#Patience is the key to success.
Comment: Price strong support at 2.80. VCP still valid.
Comment: This counter turn weak as price still stay below MA50.
Comment: The pattern not nice anymore. No longer follow. i believe it might take time to crawl back up MA50.

Comments

Volume has really dried up, interested to see how this plays out. Good luck
Reply
adamkhoosk SharkbaitAl
@SharkbaitAl, This counter turn weak as price still stay below MA50.
Reply
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