First uptrend finished, price breakout the box which consolidated 1 to 2 weeks.
There is two possible entry trade coming days:
(1) Breakout Entry, follow the strong uptrend with volume.
(2) Wait price retrace and a confirmation of rebound.
Since no resistance line on top of price, taking profit target can be set above 2R unless price appear huge bear candle...
Trading opportunity detected and added into watchlist. Based on the following criteria:
Good support above EMA lines.
Daily MACD golden cross.
Ichimoku cloud getting wider.
Entry support at RM 2.66 and holding.
Good volume to indicate momentum.
Solid candle done above upper BB, fresh break through from Fibo Ext 100% the major resistance level. Uncharted territory as well, meaning nothing significant to block the upside now, reaching RM2 is possible.
The chart already completed an island reversal chart pattern on April 17th when the breakaway gap occur. The retracement after the gap is expected and yesterday candle (April 26th) shows a confirmation that it is getting bullish again. Expect some minor retracement before it continue to go higher with the first price target of 0.64 by using X-X method.