Buy signal triggered based on MRV1 setup at RM0.275;
20% target at RM0.330; stop loss at RM0.245;
2-3 months due to the signal based on the daily timeframe.
**Only for discussion purposes. Not a buy / sell call.
I will take a long position price between 0.530 - 0.535 towards target 0.61 & 0.675 in extension.
Reason: Price is still above 200 ema & 52 ema indicates long signal still valid.
TAYOR
MELEWAR
Theme: Steel
Rst: 0.775
Spp: 0.71
Arrived the end of Fibo Ext spectrum, and latest candlestick build had tested 3 times the strong resistance at 0.775 but failed to break through, which can be deemed as significant weakness, expecting pullback to follow.
The study...is based upon Volume Price Spread Analysis and Momentum
Melewar has shown both Trend Breakout with Momentum
Close: 0.60
EP: 0.62<
SL: 0.52/0.47
TP: 0.69/ 0.77/0.81/open
*The last 2 Quarters the Company had shown consecutive increment in both Revenue and Net Profit. The current NTA stands at 0.96 which is more than 30% discount.
Disclaimer: This...
