- Ongoing triangle consolidation pattern
- Possibly completed ABCDE Triangle Wave
- Tightening pivots
- Accumulated Volume Profile around the area
- Possible short rally upon triangle breakout. 0.765 remains the main resistance.
- Probably will ride on the wave if able to stand firmly above 0.765 on weekly.
Disclaimer:
For discussion and sharing purpose only. NOT...
Support: 0.77
CUTLOST 0.73
Resistance: 0.81/0.86
Cepatwawasan Group Berhad is an investment holding company engaged in cultivation, milling, and sale of oil palm and oil palm products in Malaysia. It sells crude palm oil, palm kernels, and fruit bunches. The company also involves in quarry operations, which include the extraction and sale of earth and stones....
Price broke out from long consolidation and now riding on the uptrend. It has been in consolidation about a year and finally price bull has proven stronger than the bear.
The longer the consolidation, the longer and stronger the uptrend price movement will be in next few quarters!
A significant price movement from yesterday's trade put CEPAT price into the new highest price of 52 weeks. Will it be able to continue the price momentum above RM1.00? The volume is also above MA20. MACD and OBV charts indicate a positive and uptrend pattern. To place your bid, use VWAP as a guideline and place your bid below VWAP line.
Put in your WL and watch...
CEPAT formed a symmetrical triangle. Symmetrical triangle is undecisive pattern, it can be bullish or bearish.
Incase it breakout the triangle, the target price will be around 0.780
Price slightly on consolidation mode but in general all long term 50/100/150/200 MA pointing towards upward rising trend. Hold and rise with steady wave up ..
Trading Idea CEPAT (14/01/2020)
Entry: 0.67/0.68
Target: 0.725/0.75
Stop Loss: < 0.655 (based on closing)
Investment Period < 1 month
Disclaimer: The above trading idea is intended for informational purposes only so please do your own analysis before making any investment decision.
Hello Traders,
I am currently learning Technical Analysis , and the ideas I post are what I call ("Learning Notes").
Comments on my analysis are very much welcome and will be greatly appreciated.
Let us learn together, and grow together to be a better trader!
Sincerely,
Kenneth Lee
This is not a buy/sell recommendation. Trade at your own risk.
EMA exhibit strong bullish trend with EMA20>EMA50>EMA100>200... in consolidation/accumulation stage prior to continue its uptrend as shown by big volume transaction with minimum volume exit .
Crossing of EMA 128 / EMA 200 is imminent. Rising Channel Trend has formed . Daily Candles still hover above the EMA 20 curve and price supported by EMA 20/ EMA 50 . Buy on Dips when Candle approach EMA 20/50. MCDA shows bankers bulk buying interest.
