Per my tagged previous post on MYX:SUPERMX , everything seems to be going per planned and as expected. Targeting the the support region of RM1.00 for this ticker. Good luck.
I am in no way a market pro. I don't read any fundamentals/news or analysts reports. Everything here is based on charts.
Following my 6 September post on this ticker, MYX:TOPGLOV has moved according to my prediction and is on track to reach the target. I have made some mistakes in estimating the target of RM2.30 earlier, but in this post, I have revised the target to around the RM2.00-RM1.80 region.
Following up from my Nov 22, 2020 post, prices have trended significantly lower from then RM7.29 to close at RM3.72 today.
While prices seem to be temporary supported at the RM3.68 area, it is good to note that if this area gets broken on the downside, steep slide will be expected.
Good luck. Next area of support RM2.30.
Breakout from descending trendline is being enhanced by another green candle, rise above another resistance 7.10 as well. With the facilitate of improving indicators, there’s tendency to see another breakout attempt at MA50 trendline.
Still in deep bearish mode but in the view RSI bullish divergence got enhanced in Daily and 4H chart, there’s tendency to see rebound play. Apart from technical, the stock is actually in pre-Covid rally level, will it loses its strength straight that soon?
Arrived formidable support level at 7.10, with RSI starts to prop up & MACD done bullish crossover. Green candle formed today albeit not strong one affirms yesterday tweezer bottom, so there’s tendency to see rebound play in coming days.
We charted the percentage gain since 1st January 2020 till today for 1st tier glove and 2nd tier glove stocks. We use % scale so we could see how much % it has gained. We also include the healthcare sector RSI 14 to show the sector momentum. We also added few key dates
18/3/2020 MCO1.0 started
1/7/2020 Malaysia covid down to 1 case
9/11/2020 Pfizer claims...
Last minute fake move but today's weak candle already telling further weakness may spell since it violated MA50 trendline. Likelihood to plunge towards Fibo Ext 50% is there.
HARTA is not looking great from a Technical Analysis perspective at the moment. It will need break above 16.910 to regain the upward momentum. It will be even better if it can break above 18.480 to reverse its current downtrend and progress to an uptrend. If you are a short term investor, it may not be wise to long this counter now.
Rst: 16.47/ 17.36
Shall have found its support at MA50 as well Fibo Extension 61.8%, will induce technical rebound from this point but I believe it will be very hard for the stock to revisit its peak. Anticipating formation of H&S (bearish).
HARTA 1 Hour Chart:
Support : 14.74 , 16.10
Resistance : 17.10 , 18.10
Higher average volume than end June (Currently same as mid-Jun)
Momentum turned back to positive side on last Friday.
The uptrend slope is quite flat compare to others.
Near with the resistance region at 17.10 which breakout with large candle is required.
Still moving above the...
My first entry 12.30
Breakout Re-Entry Upon Short term Resistance & Fib 1.618 Res.
Stop Loss 10% , which should not happen as thee are 2 gap res, upon breaking means selling power strong
Also has to take into consideration of KLCI recent gap resistance, which now coincides with Harta resistance
Disclaimer: This is only a sharing of how I...