EG INDUSTRIES - POTENTIAL BULLISH CONTINUATION PATTERN ?
EG INDUSTRIES - CURRENT PRICE : RM2.03
In long term the stock is UPTREND as the share price is above 200-day EMA. For short and medium term, the stock is trading in sideways. However, based on chart pattern analysis, the stock is potential of making BULLISH ASCENDING TRIANGLE - Bullish Continuation Pattern.
Based on ICHIMOKU CLOUD, the share price is trading above CLOUD indicates a little bit bullish scenario. CHIKOU SPAN is in CLOUD and pending to breakout above cloud. If CHIKOU SPAN manage to break above CLOUD, it will add more bullish outlook for the stock and technically it is a buy signal.
At current moment, if the stock made a high above RM2.05, then technically it is a buy signal for me based on CHART PATTERN (Completion of ASCENDING TRIANGLE) and ICHIMOKU CLOUD (CHIKOU SPAN breakout CLOUD).
ENTRY PRICE : RM2.06 - RM2.10
TARGET PRICE : RM2.22 and RM2.37
SUPPORT : 50-day EMA
In long term the stock is UPTREND as the share price is above 200-day EMA. For short and medium term, the stock is trading in sideways. However, based on chart pattern analysis, the stock is potential of making BULLISH ASCENDING TRIANGLE - Bullish Continuation Pattern.
Based on ICHIMOKU CLOUD, the share price is trading above CLOUD indicates a little bit bullish scenario. CHIKOU SPAN is in CLOUD and pending to breakout above cloud. If CHIKOU SPAN manage to break above CLOUD, it will add more bullish outlook for the stock and technically it is a buy signal.
At current moment, if the stock made a high above RM2.05, then technically it is a buy signal for me based on CHART PATTERN (Completion of ASCENDING TRIANGLE) and ICHIMOKU CLOUD (CHIKOU SPAN breakout CLOUD).
ENTRY PRICE : RM2.06 - RM2.10
TARGET PRICE : RM2.22 and RM2.37
SUPPORT : 50-day EMA
Trade active
As expected the stock made a breakout today - 02 DECEMBER 2024. Technically it is a buy signal.
ENTRY PRICE : RM2.06 - RM2.10
Trade closed: target reached
Today 05 DEC 2024 , 1st target hit at RM2.22 Note
May take some profits and let the share price to test next target at RM2.37Note
Take note that share price hit target RM2.37 on 11 DECEMBER 2024.
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