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SAMAIDAN, where the next low?The price has broken through multiple support levels, showing continued weakness with no strong reversal signals yet. The downtrend remains intact, and unless a solid base is formed, further downside movement is possible. Key Considerations: Support & Reversal Area: As no significant buying pressure has emerged, the next key level to watch is where price stabilizes and forms a potential reversal pattern, such as a double bottom, bullish divergence on RSI, or strong volume accumulation. RSI & MACD Signals: If RSI reaches oversold conditions with bullish divergence while MACD starts to turn upward, it could indicate a possible reversal. However, confirmation is needed before considering an entry. Trend Strength: The current price action suggests weak momentum, and blindly accumulating at this stage carries high risk. Waiting for clearer signs of stabilization or a confirmed breakout is a more prudent approach. Should You Start Collecting? For myself, I wouldn’t rush into accumulating blindly. Instead, I would: 1. Wait for a Base Formation: Look for strong support and consolidation before considering entry. 2. Watch for Volume Confirmation: Increased buying volume at support can indicate institutional accumulation. 3. Monitor Key Indicators: Oversold RSI, MACD crossover above zero, or bullish candlestick patterns could signal a potential turnaround. Potential Trade Plan: If a strong support emerges, look for confirmation before entering. If the downtrend continues, stay patient and wait for a reversal signal. Avoid catching a falling knife.... let the market show clear signs of strength first. Disclaimer: Please be informed that all stock picks are solely for educational and discussion purposes; they are neither trading advice nor an invitation to trade. For trading advice, please consult your remisier or dealer representative.
MYX:SAMAIDEN
by DSELE99
SAMAIDEN poised for next uptrend wavecorrrection at 0.382 risk reward ratio is good Here are the key elements I observe: 1. Price Movement: - The chart shows candlestick patterns with both red and green candles - Current price appears to be around 1.03 MYR (Malaysian Ringgit) - There are multiple price levels marked with Fibonacci retracement levels (shown as horizontal lines) 2. Technical Indicators: - Moving averages shown as curved lines in different colors - Volume bars at the bottom of the chart (green and red bars) - Various numbered points (1-5) marking significant price levels or movements - Wave patterns labeled with roman numerals (iii, iv, v) 3. Trading Information: - Buy level marked at 1.16 - Sell level marked at 1.15 - Target price shown as 0.09 (7.76%) - Stop loss level appears to be set at 0.04 (3.45%) - Risk/Reward ratio indicated as 2.25 4. Time Frame: - The chart appears to be showing recent price action with data points marked for September 2024 - Volume analysis indicates varying levels of trading activity throughout the period 5. Market Status: - The stock appears to be in a corrective phase after reaching a peak marked by point 5 - Multiple support and resistance levels are clearly marked on the chart The overall chart seems to be a detailed technical analysis setup used for trading decisions with multiple indicators and price levels to guide entry and exit points.
MYX:SAMAIDENLong
by pengamalgelombang
Samaiden, AlgoSignal reveals potential uptrendSeveral indicators within my algorithmic system are signaling a potential uptrend. These include: - Increased volume: Activity is picking up, suggesting growing interest and potential momentum. - Mid- to long-term uptrend: Both the 50-day and 150-day exponential moving averages are pointing upward, indicating a sustained positive trajectory. These factors collectively point towards the possibility of an upward movement in the near future
MYX:SAMAIDENLong
by UnknownUnicorn34694209
Samaiden, AlgoSignal reveals potential uptrend Several indicators within my algorithmic system are signaling a potential uptrend. These include: - Increased volume: Activity is picking up, suggesting growing interest and potential momentum. - Mid- to long-term uptrend: Both the 50-day and 150-day exponential moving averages are pointing upward, indicating a sustained positive trajectory. These factors collectively point towards the possibility of an upward movement in the near future
MYX:SAMAIDENLong
by UnknownUnicorn34694209
SAMAIDEN Cup & Handle pattern. TP 30%++ SAMAIDEN is forming a perfect cup & handle pattern. Time Frame: 4H Sentiment: Bullish Risk reward 1:2 Entry 1.3 Expecting it will breaking up previous new high, around RM 1.36, and going all the way up. Write your thought in the comment session :) P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like my works? Please hit the Like, Follow and Share or tip me a coin :) Thanks! Disclaimer This information only serves as study references, does not constitute a buy or sell call.
MYX:SAMAIDENLong
by DannyKc
Samaiden, landing at EMA200 important supportMy chart does not need a lot of complicated indicator. So I always got Moderator to label as "not suggested" publish. If indicator is working, why so there are still so many people losing money? If indicator is not working, then why still so many so call Analyst publish a so complicated line flying here and there? Only when you understand the pricing behaviour, then you are able to take money from the stock market Samaiden, landing at important support EMA200 line. Stop loss at 0.675. The rest let market to decide. Keep it Simple, Samaiden.
MYX:SAMAIDENLong
by JeremyTee_ws