Dnex seems like ending contracting bottom rising triangles and the indicator shows on starting of impulsive wave.
If the price breakout at 0.81 and will start wave 1 for impulsive wave.
Potential bullish continuation. Looking for price to close above the trendline.
Entry at 0.74 or wait for confirmation of closing candle above the trendline.
Stop Loss at .66c - Profit Target 1.25
Using the Fibonacci chart the price of a body candle is already at 50%. With MA20 almost touching MA50. Hence, a high probability MA20 will be cross up MA50 if the trading end well today. Technical chart showing a long position strategy if MA20 crosses up MA50.
R 0.790
S 0.700
Looks like DNEX is completing the triangle correction pattern after completing wave 5. Observe rebound on the immediate trendline or may rebound on the bottom of the triangle pattern for best entry. Stochastic shows movement towards OVERSOLD area and may create a BULLISH DIVERGENCE once it rebound. TRADE AT YOUR OWN RISK
Since last year we've seen tech rallies for many tech counters such as UWC, Greatech, Inari, MI, Penta and etc and most of it have achieved more than 100% of ROI if you bought it in early of 2020. The share price have been soared to so high to reflect the current earnings and attractive future prospects in semiconductor industry. If you are still looking for...
(4456) DNEX
- Ended 2 months of price retracement
- Price action sustaining above its mid term trend formation.
- Recent breakout of its midpoint price to trigger price action movement.
- Manage loss management inside its retracement zone
- Strict stop loss management at its stop loss noted price.
DNEX start develop the VCP at March. 6 Aug breakout the C3 contraction with volume.
C1: -35%
C2: -26%
C3: -10%
I believe will have one more contraction before fully take off. Let's see.
Disclaimer:
Not a buy call, just sharing on chart pattern analysis. Trade at your own risk.
DNeX’s SilTerra signs US$400 million agreement with ChipOne
Cyberjaya, 4 August 2021 – Dagang NeXchange Berhad (“DNeX”), through business unit SilTerra Malaysia Sdn Bhd, has entered into a wafer supply and purchase agreement worth US$400 million with ChipOne Technology (Beijing) Co Ltd, a leading driver integrated circuit (“IC”), touch controller and fingerprint...
