EMA 50 become a strong support area for CENSOF. I think there are buy opportunities before the price reverse back to continue the uptrend because looking to the historical action, the price tend to respect the ema50 and then reverse back to continue the trend. My target price if it continue to uptrend is 0.375(20%) and using the ATR indicator, i will set my stop...
It took around 3 years for this pattern to be form
If it breakout 0.290 price, your target price is 0.505 with return of 76%
But i expected it will retest the resistance many time before it will breakout as it is the strongest resistance.
Precaution should have been made if it retest the old resistance(RBS) and might form "handle" as cup and handle...
Sektor: Technology
Sub Sektor: Software
Status Indeks: Uptrend
Status Fundamental: -
Market stage: 2
Trading Plan:
Target Price 1 (TP1) - 0.295
Target Price 2 (TP2) - 0.315
Strong Support (SS) - 0.24
Cutloss (CL) - 0.23
Cadangan 'entry':
Harga sudah breakout dari resistant terdekat dengan high volume. Kemungkinan akan buat retracement di sekitar R4 dahulu...
CENSOF TELAH MEMECAHKAN TREND MENURUN KEPADA MENAIK DENGAN SOKONGAN VOLUME YANG MEMBERANGSANGKAN DENGAN MENGUJI RINTANGAN 0.145 DAN KEMBALI TURUN DAN BERADA DI PARAS SUPPORT TERKUAT 0.105.MAMPUKAH CENSOF MEMPERTAHANKAN 0.105.?JIKA IA BERJAYA MAKA IA AKAN MENERUSKAN KENAIKAN UNTUK MENGUJI SEMULA RINTANGAN 0.145.JIKA TIDAK BERJAYA MAKA IA KEMBALI UNTUK MENUKAR TREND...
Analysis:
Based on graph shown, CENSOF tried to break resistance but it seems that it was not so strong as the volume small on the subsequent day
Trader need to hold first and follow the pattern
Fundamental Analysis of this company is not strong - please refer down:
EPS (cent): -0.04
Intrinsic Value: -0.324
ROE (%): -0.15
This notes are for learning purpose...
![CENSOF: CENSOF [4 October 2020] Buy On Dip in Support Zone](https://s3.tradingview.com/6/6NJnBucF_mid.png "CENSOF [4 October 2020] Buy On Dip in Support Zone")
