- The stop loss level is RM0.165, which limits the downside risk to around 10%.
- The target price is RM0.390. To maintain a risk/reward ratio of 1:2, you may choose to adjust this to 1:1.5 or 1:1 based on your preference.
- The time horizon is 2-3 months, as the signal is derived from the daily chart.
- This is a classic 1-2-3 breakout, creating a new higher high...
possible bullish on short term
earning 26 May 2022
next Resistance 0.790
support 0.760
need strong volume to break resistance and continue bullish patern
This stock got potential to go higher since it has been downward for many years.
Better wait until it breaks and maintain 0.555 with volume.
Collection phase is also almost finished.
Just beware your support gais :)
Entry Strategy:
1) Expecting momentum continuation next week, and some retracement this week due to profit taking before ride up the trend again.
2) Two entry strategy i put up there and CL level - follow whichever suit with your trading strategy; momentum play, weekly trading or monthly investing
Chart:
1) Breaking up the EMA and long term downtrend...
Why Buy?
1. Price test EMA100
2. Retest fibo retracement 61.8%
3. RSI test 40 level (Mark Up area) after a drop on 11 Jan 2021.
4. This counter is supported by multiple big boys.
Watch out for
1. RSI has tested 60 level multiple times (MarkDown area), if RSI close below level 40 there will be a chance for another spring down.
2. Recent quarter report not so good.
(5101) EVERGRN
- Newly formed uptrend stock.
- Sideways current price action movement.
- Buy price range can be set up within its sideways movement range.
- Sideways resistant at RM0.290.
- Sideways support at RM0.255.
- A break down below sideways support = execute stop loss.
- Price action need to see price of EVERGRN to breakout of its RM0.290 sideways...
