FAJARBUILDER is a construction and material supplier based in Kelana Jaya. Directors have been collecting since November at price RM 0.370 and 0.350.
The EWave is in downtrend mode since bullish during pandemic 2020 at 4th wave. it need to break the trendline with Breakout to start final wave 5 to RM 0.550.
A midterm target in 2022 would be once COVID 19 consider...
Stocks to Focus:
1. GENM
2. OWG
3. MYNEWS
4. FAJAR
Trade Setup:
1. Strong background in weekly and daily chart
2. Price above 20/40ma in weekly chart
3. No major weakness
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Pre Consolidation Breakout Setup.
NO INVESTMENT ADVICE IS PROVIDED
DISCLAIMER
Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any...
Fajarbaru Builder Group surged and tested the RM0.54 resistance level. I see a possibility for a another technical breakout.
If this happens, we expect it to move towards the short-term target prices of RM0.57 and RM0.615 .The downside support is projected at RM0.515.
Disclaimer: The content on this analysis is subject to personel references and used for...
Note
- Today, I would like to give some ideas on entry.
- As usual day trade, buy small lot early at entry point. When price is going to retrace, add a 2nd buy entry or 3rd buy entry.
- Look at chart progress, if it still on correction, do wait the pullback entry. When its done the retracement (correction successful), start to look at impulsive incline area....
Fajar just break 2 year Resistance at 0.49 and nicely make box accumulation (thats my term..haha). if bursa go uptrend..high probability to go higher.
tp1: 0.555
tp2: 0.610
CL: if break box.
can study recent same pattern on ORNA & TDM.
FAJAR is riding uptrend channel since its lowest dip during start of MCO back in March-2020.
It is currently set to test resistance zone (0.45-0.46). Since its already on the impulse wave for quite a while, it could probably retrace to 32.8% @ 0.425 before continuing the upward momentum.
However, should it breakout the resistance 0.46, it could test next...
The price movement is moving swing with bounce higher ema.
The momentum also increasing back from long sideway and waiting to push higher.
Seller also reduce indicating the price ready to go up.
Need to remember, the is resistant at 0.425. if price can break and hold above it, that's is the best to enter the trade for low risk.
Fajar is an uptrend chart pattern. 3M showing potential to the upside. Can break the resistant provided the volume is supporting.
R2: 0.445
R1:0.385
S1:0.380
Monitor closely for a trading opportunity.
P/S: This is a personal view, not a buy call/sell signal. Trade at your own risk.
