SEALINK buy signal based on MRV1 setup on 4 Jan 24 at RM0.220
- This is the first signal following the retracement due to a sudden spike in both price and volume.
- The support area could be established at the equilibrium support area of RM0.200.
- Suggested stop loss at RM0.195 to comply with the minimum risk of 10% based on the price.
- Consider setting the stop loss around the next equilibrium support area at RM0.165 due to the large size of the price candle.
- The target price is at RM0.270 with a 1:2 risk/reward ratio, aligning with the equilibrium resistance price area.
- The nearest resistance is at RM0.235. Adjust the risk/reward ratio to 1:1.5 or 1:1 based on preference.
- The expected holding period is 2-3 months as the signal is derived from the daily chart.
- The momentum signal was triggered near the equilibrium support at RM0.165 and broke through the equilibrium resistance-turned support at RM0.200.
- An uptrend price pattern of higher highs (HH) and higher lows (HL) has been established.
- A momentum signal at these price areas should confirm the movement. For a clearer view, zoom out on the chart.
This information is for discussion purposes only and is not a buy/sell call.