Price has broken the trendline on 29/07/2022 and formed pullback around the trendline area.
Would this indicates for MYX:HONGSENG to change direction to uptrend?
Potential entry:
RM0.495 - RM0.57
Resistance:
RM0.505 / RM0.54
Support:
RM0.49
Disclaimer: This trading idea is for education purpose only. This is not a buy call nor a stock recommendation. Please...
Can try to take a long position on HINGSENG as spotted rebounding at fibo786 in weekly chart with a pin bar. Probable EP would be at current price, TP at fibo618 in weekly chart and CL below recent swing low as shown in the proposed trade plan.
Suspected to be the end of rally. Failed to breakout the final volatility contraction, and most likely will reach 200 MAs.
Have not done macro& fundamental research on this one. Just scheming thru.
Consider to study and monitor HONGSENG which appears to break-out from a pennant formation and that the price has also crossed up the pivot point. In addition, HONGSENG's pattern also resembles that of Elliott Waves' ABC corrective zone formation on regular flat. The potential EP, CL and TP are indicated in the chart.
Looking Good to take from the reversal .For Target and Stop loss
For KLSE stocks intra day and contra day trading for Target and Stop loss
Text me in whats app +91 73138 16218
Market Cap: 8705 M.
Number of Shares: 2553 M.
Adjusted Float: 55.3%.
Stock highly correlated with
GENETEC (96%)
BPPLAS (95%)
NGGB (93%)
SAM (93%)
Too high already, or buy high sell higher
the price already up 240%++
but the volume pattern is decreasing gradually
in short , price UP volume DOWN, ..tend to bearish
but to who wanna try, better use trade Breakout strategy
but, me personally prefer to wait until the price pull back
dont FOMO
trade as planned
hepi trading gais
128 days VCP development with below contraction.
C1: -27%
C2: -19%
C3: -11%
C4: -4%
Low risk entry point formed with <5% risk.
Awaiting breakout!
Disclaimer:
This sharing is based on my personal experience in technical chart analysis. Not a buy call, trade with your own risk.
RSI for HONGSENG is now at 30. look to buy when candle close above previous day high and exit when RSI reach >40. Maybe can get 10%-20%. FOR LEARNING PURPOSES
