uptrend movement with high volume
with a gap up and above BB range
MACD cross over 0
RSI bullish upward >50
looks like a good buy but have to measure high risk taken since the last price move unexpectedly.
Reinforced uptrend momentum monitored on this counter.
Good market sentiment wit strong collection seen on price RM 0.33
Many retailers trapped at RM0.35, not sure if all retailer shaked out.
Should most of the weak retailers shaked out, huge rally may happen anytime soon.
watch closely for entry.
As you can see YBS has started to form an opening triangle pattern and twin tower candlestick pattern on the daily chart, the price might go up to RM 0.36 - 0.4 before going retest back down to trendline
1) Price still in wave 4 of 5 with ABC regular flat setup completed.
2) If price can break the 370 resistance, price may trend towards channel trendline between 430 to 450.
3) If price breakout from the channel, this may confirm that primary wave 5 has started.
4) If price failed to breakout from channel, it may go down to form WXY complex correction.
Case Study :-
The most of strongest Momentum wave - Golden Wave (impulse)
Minor wave 3 in 3rd impulse major Elliot Wave
Strong Bullish Momentum volume unusual
Steepness of a trend line increases from 45% to 70% deg
Strong Break in bar retracement symmetry leading to a change in trend behavior
Bullish gap up...
Will retraces till Fib Retracement golden Ratio 38.20% and reversal uptrend
FIBONACCI GOLDEN RATIO % STRATEGY
38.20% - Minimum Corrective Wave
61.80% - Maximum Corrective Wave
100.00% - Minimum Impulse Wave
161.80 % - Maximum Impulse Wave
-- With respect, YBS hasn't change a lot this week. Yet it manage to increase YTD up to 80% comparing with Yearly Performance 140%. Seem like a progressive increase towards this stock.
-- By using Trendband, its show that the price movement already hits a new 52 weeks High, the green plot background also above the directional line (purple) and also above...
YBS has just had a downtrend line breakout and is currently at support 0.205.
If it manages to break this level it might retest 0.250.
Above 0.250, things might get even more interesting.
Breach from this support might see YBS testing the down trend line again with support at 0.195.
Deep buying may be good and low risk, but it the matter of time for investors and traders to alert that this stock is ready to fly(just kidding) but may be. Good buy area, low risk, i like the volume,. Ready to go for next week.