This is the first signal following the retracement due to a sudden spike in both price and volume.
The support area could be established at the equilibrium support area of RM0.200.
Suggested stop loss at RM0.195 to comply with the minimum risk of 10% based on the price.
Consider setting the stop loss around the next equilibrium support area at RM0.165 due...
contemplating to buy whether sealink or systech.
sold systech the same day
+jump ship to SEALINK
is it going to work?
i dont know.
but the structure still looks good for sealink
as long we keep our risk within safety net, it worth to try.
Sealink Time Frame Weekly
Hai Traders this normal parttern
Already break trendline downtrend also have cup and handle
Price want going to higher
Right now just follow the trending trend
#thisonlyforpredectionstudy
#thisnotforbuycallorbuysell
#chartpattern
#TAYOR
#MFM.TRADER
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As you can see the price is currently in an ascending triangle pattern, and if the price manage to cross above the resistant (also 20 MA) it might go up to RM 0.250 - 0.285, but if the price not manage to break above it will continue the pattern and also might break below the triangle pattern.
After 5 days continuous falls, look for potential rebound.
Disclaimer:
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Noticed the volume slowly building up in TF15 chart. 7% after the sign shows increased buy volume. This stock kinda strong among other stock that are bleeding this week. Just a small pulback and get back up again. The candlestick looks good, if buy volume is climatic, we shall see a long marubozu candle by end of today. Finger cross!
3 Drive has been formed, so there is a possibility that the price will drop before continuing the uptrend / rally.
Disclaimer: If you choose to follow this trading idea you do so at your own risk after giving thorough and reasonable thought and consideration to your actions. All trading is high risk and one of the most difficult activities you will ever consider....
