The candlestick indicates a divergence signal due to the price being below the MA200 line. Using the support channel line as a reference, the price has the possibility to break the R1 price line, hence, toward the R2 price line in future trade.
The support channel is a reference to holding stocks within the parallel trend lines and buying stocks at the lower...
Bjfood, as by 5 jan 2023, price closing rm0.98 . No new catalysts, news, either booster. Lack of popularity, momentum low, many sign of weakness, upthrust 1 day ago.
However, the trend is still bullish. Price still above MA100 and MA200. Currently testing support at 0.98. If broken may test support @ 0.935.
Next quarter report expected on early February....
BJFOOD setting up VCP with below contraction:
C1: -29%
C2: -14%
C3: -7%
Chart further stand solid after the split. Volume look decent lately on 15th and 19 Sep. Let's see if able to breakout the C2, C3 and C1 as well.
Disclaimer:
Information presented here is not intended to be used as the sole basis of any investment decisions nor should it be construed as...
1)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
Corporate Name : BERJAYA FOOD BERHAD
Symbol & Code : BJFOOD (5196)
Board : MAIN
Shariah : Compliant
Sector : Consumer Products & Services
Sub-Sector : Travel, Leisure & Hospitality
• Weekly: Price is maintaining 200ma after a huge 50 ma breakout
• Daily : Strong 20ma support and now the price is trying to break the resistance at 1.75
• EP: 1.6-1.7
