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Panjang

The stock is in an uptrend on the daily chart

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Candlestick Patterns :
  • The price hit a high of MYR2.50 and closed at MYR2.48 (+3.33%) on the daily timeframe.

Bollinger Bands :
  • The price is currently near the upper band, suggesting potential overbought conditions. However, since the price is continuing to rise, it could signal a strong bullish trend if the price remains close to the upper band.

Trend Analysis :
  • The overall trend seems bullish as the price is making higher highs and higher lows. It’s supported by the price staying above the moving average.
  • A continuation of the uptrend would depend on the price breaking through the MYR2.50 level.

Possible Scenarios :
  • Bullish Case: If the price breaks above MYR2.50, the next potential targets would be the next psychological round numbers, such as MYR2.60 or higher.
  • Bearish Case: If the price fails to break the MYR2.50 resistance and falls below the moving average (around MYR2.25), it could signal a shift in momentum toward a correction or consolidation phase.

Penafian

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