HARTA finished making wave 4?
Looking at the chart for Hartalega Holdings Berhad, here's my analysis:
Current Price Action:
- Trading at RM3.65, up 3.40%
- Recently pulled back from wave iii peak
- Price holding above key moving averages
Elliott Wave Analysis:
- Completed waves i through iii
- Currently in wave iv correction
- Wave v target projected around RM4.08
Key Technical Levels:
1. Support:
- Strong support at RM3.54 (0.382 Fibonacci)
- Secondary support at RM3.39 (0.5 Fibonacci)
- Critical support at RM3.23 (0.618 Fibonacci)
2. Resistance:
- Immediate resistance at RM3.76
- Major resistance at RM4.08 (wave v target)
- Previous high around RM4.00
Financial Events:
- September 2024: MYR-14.633M (-152.96%)
- June 2024: MYR27.628M (+223.48%)
- March 2024: MYR-22.374M (-68.23%)
Trading Considerations:
- Wave iv correction appears nearly complete
- Volume profile supporting potential reversal
- Risk/reward favorable for long positions
- Stop loss could be placed below RM3.39
Current Price Action:
- Trading at RM3.65, up 3.40%
- Recently pulled back from wave iii peak
- Price holding above key moving averages
Elliott Wave Analysis:
- Completed waves i through iii
- Currently in wave iv correction
- Wave v target projected around RM4.08
Key Technical Levels:
1. Support:
- Strong support at RM3.54 (0.382 Fibonacci)
- Secondary support at RM3.39 (0.5 Fibonacci)
- Critical support at RM3.23 (0.618 Fibonacci)
2. Resistance:
- Immediate resistance at RM3.76
- Major resistance at RM4.08 (wave v target)
- Previous high around RM4.00
Financial Events:
- September 2024: MYR-14.633M (-152.96%)
- June 2024: MYR27.628M (+223.48%)
- March 2024: MYR-22.374M (-68.23%)
Trading Considerations:
- Wave iv correction appears nearly complete
- Volume profile supporting potential reversal
- Risk/reward favorable for long positions
- Stop loss could be placed below RM3.39
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.
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.