VITROX CORPORATION BHD
Singkat

is Selling VITROX near Fibo 1.681 and after ex-date Good?

44
Looking at the chart for Vitrox Corporation Berhad, here's my analysis:

Current Price Action:
- Trading at RM4.00, down 0.12%
- Recently broke out from a consolidation pattern
- Price moving above all major moving averages

Technical Analysis:
1. Fibonacci Levels:
- Key resistance at RM4.69 (2.618 Fibonacci level)
- Support at RM3.68 (0.786 Fibonacci level)
- Ultimate target possibility at RM5.24 (3.618 Fibonacci level)

2. Price Structure:
- Formed a cup and handle pattern recently
- Successfully broke above resistance around RM3.80
- Higher lows forming on the daily timeframe

3. Moving Averages:
- All MAs turning upward
- Price above all major MAs
- Golden cross formation visible (shorter MA crossing above longer MA)

Volume Analysis:
- Recent volume spike supporting breakout
- Money flow indicator showing positive momentum
- Volume increasing on up moves, suggesting strong buying interest

Notable Events:
- September 2024: MYR5.989M (-73.55%)
- June 2024: MYR22.646M (+171.03%)
- Strong recovery from earlier lows

Trading Considerations:
- Entry above RM3.80 support
- Stop loss below recent low around RM3.40
- First target at previous high around RM4.50

p/s profit +-rm1k after sold 4000unit

Penafian

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