Fiamma have 2 times rebound successfully from fibo 0.382.
Now is the 3rd time rebounding.. if it can successfully rebound, can consider swing until fibo 1.272..
Observed FIAMMA doing a VCP setup with below contraction:
C1: ~ -26%
C2: ~ -5%
C3: ~ -4% (tight area)
C3 contraction recently is tight area - considered as low risk entry zone.
5, 9, 12 Aug volume looks decent. Let's see if it will continue rally before QR or not. Need to take note on QR this month. Strategy will be FIFO before QR.
Disclaimer:
Not a buy call...
Disclaimer: This is not a buy call but for learning purpose
Technical Analysis
Price around MA50
Volume is quite low
Potential rebound at MA line
RSI around 50
MYX:FIAMMA
SWING: 2 DAYS TO 2 WEEKS
Breakout Downtrend Line
52 Weeks High Line
Fibbonaci Retracement
Candlestick Support & Resistant Zone
Trendline Support & Resistant
Eventhough this stock is Overvalue. But considering with current economy situation in Malaysia, they still can give 1.75 cent dividend. I'm in. Fiamma's management has done a good job so far and they look capable of steering the company through these volatile times. This year, where JV property project by this company to develop residential properties in Batu...
![FIAMMA: FIAMMA [9 December 2020] Buy On Dip in Support Zone](https://s3.tradingview.com/k/KOYcshAb_mid.png "FIAMMA [9 December 2020] Buy On Dip in Support Zone")
