This a very nice Accumulation Schematic #2 (Rising bottom) as mentioned by the late Prof Hank
And, past few days, there is a sudden huge demand which evidence by huge bar/candlstcik along its volume spike
Position initiated as stated
Pure Wyckoff
CTOS NTA 0.26 MYR, above 1.62 MYR is bullish, below RM1.62 MYR is bearish. The forecasted trajectory is heading south unless the price action can penetrate 1.62 MYR comfortably.
The Discounted Cash Flow (DCF) valuation of CTOS Digital Bhd (CTOS.KL) is 0.72 MYR. With the latest stock price at 1.41 MYR, the upside of CTOS Digital Bhd based on DCF is...
1. Initially, the price showed a rebound from the left side, surpassing the 1.26 mark indicating a certain level of support at that price point.
2. Price repeatedly hit resistance around the 1.45 level, signifying a significant barrier to further upward movement.
2. The price pattern formed a consolidation triangle, and it has recently broken out of this pattern...
Technically based on Fibonacci projection, CTOS has shown the movement with potential of minimum 47% from the current price.
This is for fundamental reference only and not a buy call.
A very nice VCP set up and then breakout from the resistance of RM1.460 which is now at least 7.4% from my recommended entry zone. RSI at 75 now consider a very strong momentum and I am expecting it will further surge to higher level. Stop loss setting is now at RM1.400 and my target price is RM1.780 (21% profit margin).
25 Jan 2023 18 Jan 2023 Acquired 640,000 EMPLOYEES PROVIDENT FUND BOARD
20 Jan 2023 17 Jan 2023 Acquired 860,000 EMPLOYEES PROVIDENT FUND BOARD
17 Jan 2023 12 Jan 2023 Disposed 2,998,800 EMPLOYEES PROVIDENT FUND BOARD
17 Jan 2023 12 Jan 2023 Acquired 1,193,900 EMPLOYEES PROVIDENT FUND BOARD
13 Jan 2023 10 Jan 2023 Acquired 416,300 EMPLOYEES PROVIDENT FUND BOARD
13...
Since this stock is moving slow, so 1W chart is best to see it clearly.
As can see the chart is growing forming Flat Top, and not diverging from RSI.
From 1D chart, current stock price is almost the same with MA30, and MA200 price, so its worth to KIV.
Wait to see the breakout around 1.470.
Next Resistance would be around 1.630.
target next wave A for ZIGZAG pattern
on time frame weekly, correction wave B already seen completed with expected to do Running Flat pattern for weekly tf.
the trend setup shown good basis for entry price.
the TP and CL as per stated in graph.
however, due to market & covid situation, hardly to say the timeframe for TP.
trade at your risk & trading plan
Daily candles indicates a box trading opportunity between 1.71 up until 2.10. should the price break the DTL, 2.10 is the next target. Any uprise in the price must be supported with good volume. Stoch is at the oversold zone with a positif sign to make a reversal. TAYOR
Using Supply and demand analysis, looking that CTOS price are near to demand area which between RM 1.9~1.86 already completed dividen exdate.
expected to sideway until near end nov before able to BO at Supply zone at area of RM2.
