HOMERITZ a Possible Double Bottom?
Based on my analysis, It is possible that it is the start of the forming of a double bottom pattern. Based on the weekly chart, the price is still near the support so it is either cut loss small or win big. Strong Support is on RM 0.585 and the confirmation of the double bottom pattern can be made when the price cross the green box at the 2 points. The green box indicates when can buy while the red box indicates the sell or cut loss. If the double bottom pattern is successful, the Take Profit price can be targeted at RM 1.050. If it is not successful then it only the descending triangle pattern which can indicates continuation pattern on the downtrend.
Disclaimer: This is not a buy call. Just my humble opinion. If you have different opinion fell free to left a comment. Do follow me also.
Disclaimer: This is not a buy call. Just my humble opinion. If you have different opinion fell free to left a comment. Do follow me also.
Disclaimer
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