MN HOLDINGS - Potential of making Bullish Symmetrical Triangle ?MN HOLDINGS - Current Price RM0.920
In long term the stock is still UPTREND as it is above 200-day EMA. In short and medium term, the stock is in sideway/consolidation.
The declined from 12 Aug 2024 (high RM1.12) to 29 Aug 2024 (low RM0.820) is due to weak market sentiment and profit taking activity. At current situation, the stock have a potential of making Bullish Symmetrical Triangle. If price made a breakout above the pattern, then it will trigger a buy signal (as it is viewed as Bullish Continuation Pattern). However, at this current moment there is no buy signal yet. As such, we may keep this stock in wacthlist.
For ICHIMOKU CHART traders, the price is trading within the CLOUD (indicates sideway) and the CHIKOU SPAN is still below CANDLESTICK and CLOUD (no bullish scenario yet). If the price make new high above the CLOUD or the CHIKOU SPAN crosses up above CANDLESTICK & CLOUD, then it is viewed as bullish scenario. At that moment, ICHIMOKU CHART traders may anticipate to buy at best entry price.
Notes : MN HOLDINGS is a good FUNDAMENTAL company and also a sub-con to TENAGA NASIONAL BHD. On 01 November 2024, HONG LEONG INVESTMENT BHD give a fundamental target price of RM1.60. However, as a CHARTIST/TECHNICIAN, we look for a buy signal based on Technical Analysis.
KLSE and Tenaga display symmetry in trend structure
If KLSE Bursa has a positive outlook for Q4 and 2025, can we expect Tenaga to see its best prospects ever?"
KLSE and Tenaga display symmetry in trend structure
If KLSE Bursa has a positive outlook for Q4 and 2025, can we expect Tenaga to see its best prospects ever?
If Tenaga could be supported at range of 13.50-13.70
The next support see at 12.70 and 12.00-12.20 respectively
Any bottom catch signal appear in the indicator RSI shall be an entry point in the mid term
Will YTL Power able to support at the nearest defense?
The down trend looks continue if not able to support at the zone of 3.30 -3.50
With the Fibonacci down trend, the latest rebound was not more than 0.382, which indicate weak momentum
Could u imagine Tenaga will fly for different target price soon
Mid term target 16, 16.90
It is the second attempt broke 15.00 since Sept 2024
Based on Fibonacci channel, the target price shown at the side indicate the different short to long term target price
MACD indicate bullish sign with gold cross after recent retracement
Important to keep profit for YTL Power
Head and shoulder pattern going to form
YTL power broken 200 days long term trend, a new low seen, a rebound is expecting in short term
Critical price broken at 4.00
Strong support to see at 2.20-2.50
YTL Power rebound this week take profit as fast as possible
The critical price broken of 4.00 since some days
The 200 days long term trend line broken
The next support see below 2.20 - 2.50
The neckline broken of Head and shoulder pattern, will see a rebound for short term, resistance see at 3.90 -4.00
Bullish future for Tenaga with development of AI centre
Based on the top down measurement of the history price to its last bottom, Tenaga target at 16.00 for exit mid term position. This was the history price achieved In March 2018. With RSI looking overbought in monthly chart, the retracement is necessary before the next move.
With the strong demand from the AI centre development in Malaysia, the long term good prospect is expecting for Tenaga.
Based on wave calculation of up trend Elliot wave, after mid term correction, the new target price will see projected at 19.00 with 1.618 Fibonacci measurement.
Looking back at the history chart patterns of 70 (40 +30) months plus additional 5 months correction period, are we looking forward that this history pattern might be seen for Tenaga in next 2 years to come?
The news about further acquisition of UK based renewable energy firms looks like the prospect of Tenaga is quite promising
theedgemalaysia.com
Time for Jaks to wake up
Based on history trend, time zone looks a timing for Jaks. With the data center and AI theme is super hot in Asia now , Jaks will benefited with this big economic factor for its project.
Is time to look at Velesto?
Strong based at 0.25-0.27 formed a good new support. Resistance of 0.40 will see a challenge whether will repeat horizontal move for a long period like earlier or shorter
Malakoff will follow the industry to shine
Once the neck line at the current level is successfully break through, the up trend would be quick. In the 2nd half of 2024, utilities sector up trend continues its momentum
Strong support at 2.30 will see as mid term up trend intact
Weekly chart shows potential to challenge 3.00 before complete its 1st phase 5 waves. Mid term up trend is still intact as strong support see at 2.30.
Sky for telekom is open
Telekom will be another winner and beneficiary of the AI and digital center investment in Malaysia economy. With the bullish up trend momentum of the first half of 2024 and the recent broke of history resistance high would be very optimistic that the up trend mode will continue.
