It might reach the peak for this round.
>> Need to break the long term downtrend line (pink) but seems it's quite hard to do so.
>> Two road blocks are the top there.
>> Protect the downside.
Let the bull rest / go for holiday.....
When the market moves where, and how, and if - these are all unknown. The only thing which we can control is our risk. Focus on...
Genting Malaysia has gone many years of "honey moon" time for "more bedding time" BEFORE...A "Huge/Giant" ""Tringale" " abcde (green)"running" for "many years" = To Test Our "waiting skills" waiting for 5-10 years.. "Buy and Hold" "Patience" on "BLUE cheap" stock.
Today's price down with high volume are mainly created during the day bottom price. High volume with price stays the same is a sign of bottoming for our analysis.
However, do take note that this is just a sign of price bottoming. It is not a sign of rebound yet. To catch the rebound, we will need to monitor the upcoming trading days price & volume for any sign of...
Sign of Strength in the chart:
1. Shakeout Completed
2. Pullback with NS
3. Bullish signal is back
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
GENM spotted with bearish bat harmonic pattern rebounding at fib0886 (Point C) where a potential trade can be taken up to fibo886 extension or Point D. The harmonic pattern happens to be inside a bullish pennant. Proposed trade as per chart where the CL is below a yearly pivot (not shown).
Recovery stocks recently got movement since travel restriction will soon lifted after nationwide achieve 90% vaccination.
GENM observed contraction below:
C1: -21%
C2: -11%
C3: -3% (earliest signal low cheat)
C4: -6%
C5: -4%
Let's monitor its movement. GENTING also has the similar setup.
Disclaimer:
Not any buy call suggestion. Sharing on chart pattern for...
Case Study:
1. Genting
2. Genm
Sign of Strength in the chart:
1. Re-accumulation
2. Potential VCP Setup
3. Strong background
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Case Studies:
1. WCT
2. SPSETIA
3. GENM
Focus in this video:
1. How to combine weekly and daily chart
2. Sign of Strength with Green Pentagon in both timeframe
3. Background in the Accumulation stage
4. What is a successful Accumulation / Reversal ?
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call....
retracement until uptrend line and price rebound.
pending for short term downtrend line to verify the signal
Strategy
Uptrend signal appear
BoD with star signal appear
stand above MA 10 and B signal appear
buy when retrace but the retracement must not below MA10
GENM
Rst: 2.90
Spp: 2.72
The completion of H&S formation doesn’t necessary mean the stock will be plagued by selling pressure. Indeed, the sentiment for recovery play is slowly picking up again, shall see further play in coming weeks.
Genting Malaysia Probably forming a leading diagonal pattern. Price Could find its support at around Rm 2.720 where there is a confluence zone of 1) Up Trend Line Support of the trend line / Leading Diagonal Pattern 2) Next Demand Zone
Due to the lock-down, with "very serious" of covid 19 climbing up cases.. Genting Malaysia's Casino and its Newly Theme Park still waiting for its post pandemic "recovery business".. Genting Malaysia Monthly maybe is forming a wedge pattern.. Possible bottom around Rm1.00
It has formed an ascending triangle, 2.5-2.53 is a strong resistance area, and most of the chips are also concentrated in this price area, once it can break 2.53 or this ascending triangle, the price may rise, otherwise, it will continue to fall.
Disclaimer:
No trading advice
