Hassan_Abdullah

YONG TAI BERHAD (15-DECEMBER-2020)

MYX:YONGTAI   YONG TAI BHD
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5
A bullish engulfing candlestick rebounded off 61.8% FR and 20-day EMA after a brief overbought correction. The price is expected to resume its upward movement as it is now above the rising combined 20,50&200-day EMA .
The bullishness of the trend is supported by positive momentum in MACD .

EP – 0.355

Next R/ TP:
• 0.45 (coincides with 61.8% FE) – take half profit first.
• 0.57 (coincides with 100% FE)

Support:
• 0.335 ( 38.2% retracement )
• 0.26 ( 61.8% retracement )

Risk and reward – 0.02: 0.095 which is 1:4.75

Comments

Good analysis Sir but won't it be better to combine the EMA with the KLCI CRS volatility, most of the time MACD is lagging, and CRS will be better right?
Reply
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