The recent breakout on 11th Aug is still an interesting point to note. The price is floating at middle bollinger band with insignificant volume while still holding up the uptrend line. Another breakout this week is totally possible.
Strength Signal in the chart:
1. Green pentagon high volume
2. No Supply signal
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ICONIC another stock that supply mask, this stock try to testing 0.320 price which is a resistance price. Once it break this price you can expect it to fly 0.350. 0.290 is now support price for this stock.
My favourite pattern is used again, this time on sudden rise of ICONIC.
We would predict today's trading will be a pullback as profit taking will take place. I would usually suggest retracement using Fibonacci. If the price maintains at RM0.295 and above with accumulation phase taking place, we will see price move back to RM0.320 and further increase to...
Case study ICON on EW.
Current, short term distribution based on pnf chart sbb collect dekat bwh tu kejap je but if berjaya maintain atas 0.110, dia akan buat fasa re-accumulation (0.110 - 0.150), main ranging, indi stoch.
if break 0.110,
next pit stop;
3. 0.075 (aku bias dekat sini sbb ada gap tak close)
Formerly known as Sanbumi, ICONIC is my go-to stocks when it comes to swing quarter-to-quarter trade.
Iconic Worldwide Berhad, formerly known as Sanbumi Holdings Berhad, is a Bursa Malaysia listed company that is primarily involved in tourism and property businesses. Iconic Worldwide is currently expanding to transform into a significant property player in the...