Bursa Malaysia is developing volatility contraction pattern at contraction less than 5%.
Entire pattern has developed for 138 days.
C1: ~29%
C2: ~8%
C3: ~4%
7th Dec 2020 huge candle with large volume is a good support. and it is forming a pivot point now.
With the current entry price, the next support will be at 8.18 which risk only at ~5.75%.
Disclaimer:...
Bursa previously has retested 2 times at RM 7.8, but failed to break lower.
Hence we can take that as a strong supporting zone.
And looking at the momentum, selling momentum is changing to buying.
Looking forward to retest the previous resistant Rm10.20+
Risk and reward 1.8 : 0.8
And coming QR is promising!
Please consider your own interpretation of Opportunity & Risk:
Green Arrow (Transparency = 0) = Representing Upside
Red Arrow (Transparency = 0) = Representing Downside
Green Arrow (Transparency = 30%) = Representing Alternate Price Path, or less probable outcomes
Red Arrow (Transparency = 30%) = Representing Alternate Price Path, or less probable outcomes
NO...
Fast Turtle Buy 9.8 bouncing from EMA20 and Fibo 0.382.
FiFT turned +ve
ATOM Buy.
The only concern volume is below average.
Can consider buy on pullback. SL below 9.1
Bursa volume of trading will contribute to its earning, hence justified the price increase.
The chart shows the trading ideas previously in expectation of Covid-19 demise. Low and bottom feeder.
Then due to stimulus plan, Bursa rebounded strongly, meeting the expectation. MCO contributed positively to market as a whole, and specific to Bursa.
We had seen...
Hi, I think BURSA will continue back the move up after recent retracement down to area of horizontal line A which was a major resistant-turned-support line on higher TF.
Bar 1 was the climactic bar, with ultra high volume, meaning buyers entered to slow down the down move.
Bar 2 was a No Supply bar.
Bar 3 was a spring, meaning that price broke below the recent...
I can see BURSA reaching RM8.10 in the coming months. With their first dividend announced, I think BURSA is a good stock to buy and hold for the first half of the year. What are others thinking?
