Looking at the chart for Notion VTec Berhad, here's my analysis:
Current Price Action:
- Trading at RM1.25, down 0.97%
- In wave iv of a larger Elliott Wave structure
- Price finding support at key Fibonacci levels
Elliott Wave Analysis:
- Completed waves i through iii
- Currently in wave iv correction
- Wave v target projected around RM1.45
Key Technical Levels:
1. Support:
- Major support at RM1.09 (0.618 Fibonacci)
- Secondary support at RM1.00 (0.786 Fibonacci)
- Critical support at RM0.870 (wave i low)
2. Resistance:
- Immediate resistance at RM1.23 (0.382 Fibonacci)
- Major resistance at RM1.45 (wave v target)
- Trend line resistance around RM1.35
Key Points:
- Price bounced from RM1.16 support level
- Moving averages beginning to turn upward
- Volume showing potential accumulation phase
- Trading within an ascending channel
Trading Considerations:
- Wave iv appears to be completing
- Stop loss could be placed below RM1.16
- Risk/reward favorable for wave v setup
- Watch for break above RM1.23 for confirmation
Current Price Action:
- Trading at RM1.25, down 0.97%
- In wave iv of a larger Elliott Wave structure
- Price finding support at key Fibonacci levels
Elliott Wave Analysis:
- Completed waves i through iii
- Currently in wave iv correction
- Wave v target projected around RM1.45
Key Technical Levels:
1. Support:
- Major support at RM1.09 (0.618 Fibonacci)
- Secondary support at RM1.00 (0.786 Fibonacci)
- Critical support at RM0.870 (wave i low)
2. Resistance:
- Immediate resistance at RM1.23 (0.382 Fibonacci)
- Major resistance at RM1.45 (wave v target)
- Trend line resistance around RM1.35
Key Points:
- Price bounced from RM1.16 support level
- Moving averages beginning to turn upward
- Volume showing potential accumulation phase
- Trading within an ascending channel
Trading Considerations:
- Wave iv appears to be completing
- Stop loss could be placed below RM1.16
- Risk/reward favorable for wave v setup
- Watch for break above RM1.23 for confirmation
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.