HM signal (High momentum) spotted. Looking good with increasing volume and momentum.
Manage to break out the previous high with higher volume and support at good level @ 0.785 - 0.800. It is likely to trend higher if the momentum continue to rise from here.
As the price structure unfolding, latest bar lingering around the Upper trading range.
from the perspective of wyckoff methode, it looks like BUEC in progress (Phase D)
Another interesting point, the Huge, Ultra high Supply Vol (blue arrow) indicated that possibility of Composite Operator (CO) Rotation had taken place
Pure Wyckoff
Is that a Cup & Handle pattern? Maybe we can try buy in the zone lah at lower TF. Suite for position trader.
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Previous resistance can be the support?
Shall this fellow rebound around this area (0700)?
What is the risk reward ratio? I don't know.. potential gain about 6%?
Still looking for firm base...perhaps Monday or Tuesday will has the signal.
Let see how market react.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion...
MUHIBAH 5702- Pure TA POV
Ascending triangle with rising lower trendline, aka VCP
BO with volume
Currently retracing, retest recent resistant, if rebound = RBS
Caution on entry, currently offers good 3-5% risk upon entry
*extra precaution: noticed that this stock is a small cap ( MCAP ~ 552M)
*small cap means more volatile
*low liquidity
MA 200 started to flattening, a signal for bearish to end
Volume is picking up
RSI showing positive momentum
Construction index also showing uptrend momentum ahead
Trading Idea
- buy half position on breakout @ 1.15 - 1.75
- watchout for volume on breakout
- if volume is not spiking up on the breakout, sell all bought position
- if volume is spiking up on the...
Entry Strategy:
1) Wait for confirmation downtrend line breakout and make an entry there - ride the momentum
2) Wait for retracement into the zone and make an entry range 0.88-0.90
Chart:
1) In year 2020, some significant movement been made.
2) Normal structuring formation observed - less or maybe no speculative entry
News:
1) May benefit to the Crude Oil...
MYX:MUHIBAH
SWING: 2 DAYS TO 2 WEEKS
Breakout Downtrend Line
52 Weeks High Line
Fibbonaci Retracement
Candlestick Support & Resistant Zone
Trendline Support & Resistant
break last high, and 2nd higher high been created,
any pull back with no below 0.845 will be a change to add.
if break last low (0.845) will not consider long bias.
Muhibah is currently consolidating and seems able to defend 0.97 Support.
Potential buy on breakout if able to close above 1.04-1.06
FiFT is bullish with nice volume build up.
ATOM buy signal indicating this stock is Trending up.
Potential TP area 1.20 (key Fibo & EMA50)
Risk Reward Ratio if breaks above 1.04 with SL below 0.97 and TP 1.20
![MUHIBAH: MUHIBAH [27 November 2020] Buy On Dip in Support Zone](https://s3.tradingview.com/g/GX7fr120_mid.png "MUHIBAH [27 November 2020] Buy On Dip in Support Zone")
