Recent trade showed HWGB is in an uptrend pattern where body candle crosses up MA50. With significant price movement and volume support in HWGB. In the Weekly and Monthly time frames, HWDB showing a rebounce pattern in an uptrend pattern state. The next resistance will be MA90.
RESISTANCE: R1: 0.33,
STOP-LOSS: Below 0.245
(VACCINE RELATED)
price currently at the end of 1st cycle for primary wave2.
price settled in ZIGZAG corrective (EW) with ending diagonal.
MACD showed bullish divergence.
volume and price breakout on 15jul first sight of strength on ending diagonal.
(study purposes)
Disclaimer: This is not a buy call but for learning purpose
Technical analysis
Price around resistance area and above 20 EMA
RSI above centerline and moving toward overbought area
MACD above centerline
Trading idea (Resistance breakout)
Entry price: 0.915
Cut loss: 0.900
TP1: 0.960
TP2: 1.00
Good News = Breakout and closing above resistance (0.875)
Big volume (542million transaction on 6/12)
MACD still above 0 (strong) even though already oversold... momentum still there.
Intra volume still high.. (buying > selling)... more people keep holding the stock..
Fibonacci.. still not complete wave 3... small 3 and big 3
Vaccine counter... if on monday still...
SIDEWAYS SINCE OCT
OVERALL BUILD UP IS MORE FAVOR TO BULL
MACD : OK
STOC : OK
with today's vol at 4.25pm.
overall looks healthy.
SL if 0.685 fails to hold.
first R 875, next 1.00
Some infos!
- NEW ISSUE OF SECURITIES issuance on 27 November, 2020.
- Started develop & trial test covid vaccine!
Some noted!
- Kanger, Sinopharm inks agreement for Covid-19 vaccine distribution in Malaysia
- Ho Wah Genting partners Xinkexian to produce Covid-19 vaccine
