Volume Spike + Double Bottom Breakout
Possible searching for intraday pullback entry opportunity around 0.195.
Disclaimer:
For discussion and sharing purpose only. NOT entry recommendation. Trade at your own risk.
#TAYOR
*Study Counter*
CI - Market going towards trending
WM - Whale increasing
MM - Peak and heading to oversold
Pattern = uptrend channel , complete falling wedge,
Bearish Butterfly Pattern -
target TP at 0.315 before retrace to minimum of 0.290.
Good fundamental.
Directors buying stake in own company.
Uptrend momentum intact.
Recently breakout from RM0.30 and hold strong above RM0.30 which now serve as strong support.
Proper shake out and churning done last friday and.
Strong buying force at RM0.305 evidenced by 77,000 lots volume done on Friday.
Watch closely for breakout from RM0.315
Support: 0.28
CUTLOST 0.25
Resistance: 0.31/0.34
Karyon Industries Berhad, an investment holding company, is engaged in the manufacture and trading of PVC, chemicals, and industrial products in Malaysia. It also offers oleochemical products, including foam boosters, concentrated detergent pastes, washing detergents, and shampoos. In addition, the company...
1. In terms of the fundamental company quite nice because it a big player in PVC compounder in Malaysia
2. The shareholder changing between insider
3. In terms of TA, the trend is uptrend base on the chart
It is possible it will go higher? will see..
Reaction market after +ve qr?
waiting to break the trtiangle
Resistance (R) : 0.28
WEAK Support (S) : 0.25
VERY WEAK Entry Price (EP) : 0.280 With strong buy of 5 Market Depth (5MD)
Target Price (TP) : 0.32
Stop Loss (SL) : 0.265
Refer to the EPRAF indicator, last Friday the green line crosses the red line. This indicates that KARYON has just stated a new uptrend phase. So maybe KARYON will start climbing tomorrow.
Sign of Strength in the chart:
1. Long period re-accumulation
2. Pullback
3. Shakoeut
4. NS signal at support (weekly chart)
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
KARYON tested resistance level R1 at 0.31 and recovered the pullback with further movement to the upside above Valid DTL. We suggest the price could rally towards the next resistance level R2 coincide Fibonacci target 2.618. On the flipside price movement below 0.20 may push the price lower.
Disclaimer: The content on this analysis is subject to change at any...
