Buy signal triggered based on MRV1 setup at RM0.345;
20% target at RM0.415; stop loss at RM0.310;
2-3 months due to the signal based on the daily timeframe.
**Only for discussion purposes. Not a buy / sell call**
W1 = DONE
W2 = DONE
W3 = DONE
W4 = DONE
W5 = In progress
Look reversal sign for confirmation to entry.
Disclaimer: The idea is for educational purpose only. Trade at your own risk.
After multiple times accumulation period, price break MidBB Daily TF indicate strong buyers.
1H TF shows uptrend movement with MidBB cross above EMA50.
Re-entry BUY chances at the Support area 0.920
Just like any other glove stocks, this stock had a good rally in past few days. We believe the stock will continue upside momentum for a while, probably gap up, before continue with a pullback towards area of value around 0.390 (Fibo 38.2%).
Best is to wait to buy on dips in the area of value during pullback.
Sentimen: Covid cases all time high, uncontrolled...
PRLEXUS-WA is on correction mode after making ATH on 20-Oct-2020. After a month and seems its still on its way to make a new LL on the downtrend channel. If it breaks the support zone (0.605-0.650), it could be dropping towards 0.490 (Fibo level 61.8%) to complete its LL.
Its motherstock (PRLEXUS) has higher balance float (64% of 182M shares) than its sector...
PRLEXUS-WA completed Wave 2 @ 0.640 in 2-Nov-2020, and since then has riding the uptrend channel for about +48.41% in just a week. Nearest support is 0.83, whilst nearest resistance is around 0.985. Good entry would be psychological resistance @ 1.0 with 0.985, and 0.83 as support.
However, if the price breakout the symmetrical triangle with volume, we could...
