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
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
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.