The Fed will increase rates indefinitely this year, which in turn will make USD stronger.
This furniture company has majority of its earnings in USD.
Fundamental: Good.
Technical:
Price has moved out of the recent downtrend line.
I've mapped out my interpretation of the Wyckoff phases in play. Currently looks to be in accumulation again.
The most recent...
1. Weekly in uptrend EMA 10>EMA30>EMA 200. Starting to make a reversal at 0.618 level.
2. H4 seems like the corrective wave has finished and start to make Wave 1 then Wave 2. Down trendline has also broken. Reversal at 0.382 level with hammer formed then broke. Price action above EMA 200.
3. Bursa Marketplace rating 10 (Fund 10, Value 10, PE 9) CTP RM4.96, Isaham...
Liihen broke short term down trend - parabolic SAR is below close price of 24/12
This indicates the price is moving on an uptrend. The ema 5 line is also on the way of crossing up the ema 20 line. Furthermore, the macd line is crossing up the signal line.
There has been significant price action 3 days building up to the breakout on 24/12
All this, are favorable...
MYX:LIIHEN
SWING: 2 DAYS TO 2 WEEKS
Breakout Downtrend Line
52 Weeks High Line
Fibbonaci Retracement
Candlestick Support & Resistant Zone
Trendline Support & Resistant
(7089) LIIHEN
- Uptrend moving stocks.
- Recent price action goes for higher high higher low movement.
- Keep the Benchmark Neck in check at RM3.86.
- A breakdown below this benchmark neck = execute trailing profit take.
- While as the price action goes higher high, keep your Desired Target Profit Zone in check.
Lii Hen Industries Bhd. is an investment holding company, which engages in the manufacture and sale of furniture. It operates through the following segments: Furniture Manufacturing, Plantation, and Other. The Furniture Manufacturing segment manufactures furniture products .The Plantation segment cultivates rubber wood trees. The Other segment includes investment holding activities. The company was founded in 1994 and is headquartered in Muar, Malaysia.
MYX
![LIIHEN: LIIHEN [2 November 2020] Buy On Dip in Support Zone](https://s3.tradingview.com/z/ZvalJDjq_mid.png "LIIHEN [2 November 2020] Buy On Dip in Support Zone")
