Based on weekly chart, the price start to moves up from the oversold region as well as from MA50. Not only that, the price breakout today (6 June 2023) with a large volume. It will be good if the price can breakout from MA20 and forming a higher low (on weekly chart).
Note
Today, the price reached the 1st target (MYR 0.825) and break above MA20 and MA50 on weekly chart. Now, we need to see how it close for this week.Trade active
Today, the price close at resistance RM0.835 with large volume. This is a good sign. Now, the next resistance is at RM0.88. But, we should collect some first as the first TP already achieved (RM0.825).Note
Today, the price closed at RM0.855 with a green Doji candle. Then, a new support line is at RM0.835. In addition, the stock still at stage 1 cycle. The stock need to break and maintain above RM0.97 in order to enter stage 2.Trade closed: target reached
Today, the price break new TP which is RM0.88 and closed at RM0.92 with huge volume.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.