Comment for weekly chart:
1) TrendX+ indicator - candlestick still swing below trendline, however mid-term trendline has turned green, but it depends on weekly close as it could turn red again
2) DDX+ indicator - the share price moves up in the past few weeks is considered an oversold rebound. Monitor if DDX+ candlestick can breakout red trend cross...
HIBISCS
Rst: 0.705
Spp: MA50
Running with C&H formation as well, but yet to breakout from the formation. As long as it remains supported around 0.705 will be good.
HIBISCS
Theme: Energy
Rst: 0.705
Spp: 0.66
Bullish piercing candlestick formation, improvement is there but remain to be observed if the signal can continue to pump the stock back above 0.705. At the moment, effect of bearish MACD crossover shall have fully priced in.
HIBISCS
Theme: Oil & Gas
Rst: 0.705
Spp: 0.66
Bullish charge from RB breakout continued, with the support of widening BB, breaking through Fibo Ext first tier resistance at 0.705 is possible.
In daily chart, we observed a cup and handle pattern and a possible 63% upside. RSI shows a good momentum for an upside, but with MACD being neutral.
EP 0.085
TP 0.95, 0.115, 0.130
SL 0.065
RRR 1:2.25
With Brent and WTI making good momentum, this could gives strong upside for energy sector, and eventually this warrant.
Its motherstock HIBISCS considered laggard...
HIBISCS
Rst: 0.465
Spp: 0.40
Getting close to its psychological support level at 40sen, selling pressure continues to diminish, lower BB will limit the stock downside.
HIBISCS (5199)
Golden Crossover formed on February 2019 based on the 3 lines.
Consolidating below its Midpoint price RM1.06 for a month.
Today the breakout above its Midpoint signify further rally ahead.
**IMPORTANT**
Ideas shared are merely just for analysis and studies. No buy or sell call actions should be taken seriously unless the person reading...
Detail @ the Chart..P/S: Unlike conventional, To have consistent elliot wave counts,there is ONLY 3 subwave ( abc ) counts on ANY Impulsive wave (1,3,5) VS coventional counts which is 5 subwave (1,2,3,4,5)
(Frequency of Winning x Average Size of Win) - (Frequency of Losing x Average Size of Loser) = Risk
(.40 x 3) - (.60 x 1) = (1.2 - .6) = .6 Risk Unit...Trading is about math and risk management...The gist of the model is that you must keep your losses small and let your winners run. Indeed, many successful traders target a 3:1 or 4:1 relationship between winning...
Mark Douglas on Chart Patterns:
We can use all the various tools to analyze the market’s behavior and find the patterns that represent the best edges, and from an analytical perspective, these patterns can appear to be precisely the same in every respect, both mathematically and visually. But, if the consistency of the group of traders who are creating the pattern...
Laburlah Technical Coverage (06-JUN, Wednesday):
HIBISCS
Technical Analysis Breakdown
1. Trend: Range bound
2. RSI & Stochastic: Reversing
3. Bollinger band: Waving upward
4. Resistance level: 0.95
5. Support level: 0.865
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis...
