I have a large number of stocks whose momentum readings are still valid during my absence, but I couldn’t find more when I returned. Weird…
The support area could be set at the most recent pivot low of RM0.275. However, this would make my target price based on the risk/reward ratio too high, and I wouldn’t want to hold that long.
I would set the stop loss to...
PESTECH
Theme: Engineering
Rst: 1.13
Spp: 1.03
Falling wedge formation (impending bullish move), latest candles are surviving at key support 1.03, RSI & MACD are slowly recovering as well
Overall still an uptrend, bullish and strong bull stock with red EMA20 line is above green EMA50 line and price closed above EMA50. Need more few days to reverse its short term downtrend to break out from its triangle pattern. Can consider entry now as it is closed near to its support 1.135~1.110. Resistances to break 1.245, 1.315 and 1.430. Banker chip at 35%.
PESTECH
Rst: 0.81
Spp: 0.78
Second testing of rounding bottom breakout neckline as new support, the forming of doji candle is early indication support is starting to forge at this level. There’s tendency of forming morning doji and gradually push further to MA200.
