This is a repeated signal that was triggered multiple times, but the focus is on the one that happened on 14 Dec 2023 at the closing price of RM0.335.
The support area could be established at the equilibrium support area of RM0.300, which is also suggested as the stop loss to maintain a minimum risk of 10% based on the price.
The target price is somewhere...
A series of LH LL were shown on chart.
Wait for confirmation of strong reversel trend to swing higher.
>> Broken all EMA lines
>> Price below Hull MA (red)
>> Although LTF showing positive divergence, but just wait for better confirmation.
Always remember, trend is our best friends.
When a stock / index has gone up substantially, we must be more care if we...
MASTEEL double bottom spotted on the left (red box) experiencing downtrend stage 4 for more than 500 days. Huge volume spotted since Nov 2022 and chart reversal from stage 4 to stage 2.
VCP setup on the right (green box) for more than 2 months with contraction below:
C1: -20%
C2: -13%
C3: -6%
Price breakout on 26th Jan and experiencing a pullback to re-test the...
STEEL bar manufacturer Malaysia Steel Works (KL) Bhd (Masteel), whose stock price has jumped 60% over the past month, is said to be a takeover target of a Bursa Malaysia-listed integrated builder conglomerate, according to market sources.
“A locally listed building materials distributor, which has been actively acquiring companies and businesses in recent years,...
MASTEEL can try in 1htf trade with an early exit just below the ATR and slow MA. TP is at yearly pivot. Between current price and TP, there is no noticeable resistance.
Trendband cycle begin with breakout candle ("B" candle). Possible EP at purple box. Look for Stop Loss (red dot). Suggested trading plan as shown at right-top.
Sector: Steel
RRR: 1:1
Swing Entry at TF 30 min
Disclaimer:
You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor. All trading strategies are used at your own risk.
We notice a price breakout above the Symmetrical Triangle, hence we are optimist on further bullish movement towards minimum target at 0.945, followed by 1.08 if the buying momentum still persist. Nearest support is seen at 0.58.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education...
Metals commodity reaching all time highs, laggard steel stocks such as MELEWAR and HIAPTEK have already achieved vcp breakout, MASTEEL likely to follow.
MASTEEL tend to respect the EMA 50, need to wait for an entry trigger such as bullish engulfing pattern to enter the trade. THIS IS NOT A BUY CALL, FOR LEARNING PURPOSE ONLY.
Stock: MASTEEL
Trend: Uptrend
Sector: Steel sector expected to be the upcoming sectoral play
Close at 0.57 on 5 March 2021
RRR: 1:2
Entry if DNV green colour and cross average line
