MGRC appears to have retested the the EW abc corrective zone which rebounded earlier at fibo1.618, came down and rebound at fibo886.
the idea only for own study. trade at your own risk
MGRC looks already hit high resistance and waiting for pullback at area 4 before going to hit next HH resistance at 5. The analysis is just for study purposed based on Elliot wave and Fibonacci retracement analysis.
Flat Top Triangle is seen clearly, candles are following the lines so well, too good to be so well but worth to keep in view. Be alert with the maybe the patterns of candles will be alike Yellow flagged. It is out from the Flat Top Triangle when candles are out from the area.
Reached 52 week high. Monitor for rebound for entry point. Green candle = breakout Red cross = possible entry point Orange dotted line = 52 week high
This is what happens when the stock is UPTREND, the price CROSSED UP the red line (Trailing Resistance). MARKET SENTIMENT is also one of the thing that you should be alert about.
If CS close above 1.31, expected to TP at 1.59 - 1.60. The technical analysis is just an idea for educational purpose only. Disclaimer: Trade/Buy at your own risk.
Sectors: Healthcare, Health Care Equipment & Services, Budget 2021, Joe Biden EP 1.045 SL 0.965 TP 1.26 RRR - 1 : 2.6 setup EW wave 5 + breakout trend line semoga berjaya
After break its trendline for a few days, hari ini kelihatan seperti ia memulakan pullback dan harga ditutup atas EMA 9 dan EMA21. Adakah ini permulaan untuk ia kembali ke atas uptrend line?