Stock code: MYX:5277 (FoundPac Group Bhd)
Screener: 18LC for 31 Jan 2019 (tradevsa.com)
Observation date: 5 Feb 2019
Observation:
a) Price & Volume:
- Price: Narrow spread with occassional wide spread on up bar.
- Volume: Very low w/ occasional high vol. on the up bar.
b) Market Stage:
- Markdown stage (S4) between mid Aug'18 - early Nov'18 (14 weeks).
- Price then enter into Accumulation stage (S1).
- Possible end of S1 (10 weeks) and entering Markup stage (S2).
c) Trend Line:
- Price moved away from Downtrend and into a Trading Range (between 20.5sen - 27.5sen).
- Price breaks Support (22.5sen) to test supply (20.5sen level) before eventually move back up to Support level.
- Price recently close above the Resistance level at 27.5sen.
Remarks:
- Based on the above observation, there are 2 possibilities:
a) If chart is ready for S2 stage, price should do a pullback with low vol. above the Resistance-turn-Support line.
b) If pullback failed, price is still consider in S1 and trade w/in a trading range (20.5sen and 29.5sen).
Screener: 18LC for 31 Jan 2019 (tradevsa.com)
Observation date: 5 Feb 2019
Observation:
a) Price & Volume:
- Price: Narrow spread with occassional wide spread on up bar.
- Volume: Very low w/ occasional high vol. on the up bar.
b) Market Stage:
- Markdown stage (S4) between mid Aug'18 - early Nov'18 (14 weeks).
- Price then enter into Accumulation stage (S1).
- Possible end of S1 (10 weeks) and entering Markup stage (S2).
c) Trend Line:
- Price moved away from Downtrend and into a Trading Range (between 20.5sen - 27.5sen).
- Price breaks Support (22.5sen) to test supply (20.5sen level) before eventually move back up to Support level.
- Price recently close above the Resistance level at 27.5sen.
Remarks:
- Based on the above observation, there are 2 possibilities:
a) If chart is ready for S2 stage, price should do a pullback with low vol. above the Resistance-turn-Support line.
b) If pullback failed, price is still consider in S1 and trade w/in a trading range (20.5sen and 29.5sen).
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.