GREATEC - CURRENT PRICE : RM2.37
After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging.
Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern.
Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session.
Target Price : RM2.52 and RM2.70
Support : RM2.26 (half candle of today session)
Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best.
TAYOR - TRADE AT YOUR OWN RISK.
After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging.
Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern.
Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session.
Target Price : RM2.52 and RM2.70
Support : RM2.26 (half candle of today session)
Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best.
TAYOR - TRADE AT YOUR OWN RISK.
Trade active
GREATEC hit our stop loss level on 11 NOV 2024. After hit stop loss level RM2.26, the share price drops below 50-day EMA and ICHIMOKU CLOUD. This two indicator add more bearish scenario for GREATEC. We may switch to uptrending stocks.
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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.