Using a higher timeframe (Weekly) to analyse the chart because it is in a consolidation stage. RSI is at about 65 % & it is trading above the 3 EMAs, 20 - 50 -200. For monitoring when it tests the Resistance.
major 3rd wave, now waiting completion of correction sub-wave 4
IJM as one of the construction’s “conglomerate” in Malaysia probably “reflected “ earlier on economy slowdown and “react” slower on economy recovery....
IJM as one of the construction’s “conglomerate” in Malaysia probably “reflected “ earlier on economy slowdown and “react” slower on economy recovery....
Clear indication for support and resistance at trendline in weekly chart, as shown here looking at stochastic. Disclaimer: This is for educational purpose only, not a buy call.
IJM is developing VCP with below contraction: C1: -17% C2: -13% C3: -6% C4: -4% The path is my prediction on the price movement. Let's see if it can stand firm on the moving average trendline or not. There are movement is construction related stock. SUNWAY and WCT development also pretty nice. Disclaimer: This sharing is just for chart pattern and technical...
P/S. Chart Pattern "Work"! As "Geometry Pattern" as "Face Expression"" are a form of " Reflection of Emotion " from market sentiment. It doesn't matter that "emotion" was a "Face Expression" "generated" by a "dogs. cats etc" or humans OR on Charts! IT's "nature phenomena"!! .. for us to "feel,see" the "fear. greed, euphoria " etc on the market!.. IJM probably...
seek long position at 50% fibo with ext at upper n lower channel. good luck
Looks like IJM sprinted way ahead of its time. A case of too early too fast perhaps. But anyway, it's looking like a cup and handle formation with the neckline at RM2.02. Will it jump back up the next session after a red candle today? Let's see what Mr Market says. Definitely worth keeping this in the watchlist and monitor for breakout play. Still good as long as...
suport and resistance for short term trading done 52 weeks new high after a long retrace, maybe it can go to make a new high break the the 52 wk
NO INVESTMENT ADVICE IS PROVIDED DISCLAIMER Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any recommendations and not to cause inducement to...
Technical Analysis Personally, what I learnt is there must be a Technical Analysis Strategic Plan in order to increase the risk-to-ratios favourable risks. 1. Draw Support & Resistance 2. Identify the stages (Accumulation, Advancing, Distribution, Declining) 3. Entry Triggers 4. Stop Loss 5. Exits I have learnt during my past mistakes that we should let the...