- The price has recently touched the upper band, suggesting that the stock is experiencing upward momentum.
- Over the last few sessions, the stock has shown a steady upward trend, with higher highs and higher lows.
- The increased volume supports the upward movement and may indicate strong market participation.
- Resistance: The next major resistance level can be identified near MYR0.785, which is the high of today’s session.
- Support: As mentioned, MYR0.74 could act as a support level, followed by a stronger support around MYR0.70, which aligns with previous lows.
- Bullish outlook in the short term, with momentum pushing the price towards the upper Bollinger Band. However, overbought conditions could lead to a pullback.
- Watch the volume and price action around the MYR0.785 resistance. If the stock breaks this level with strong volume, further upside can be expected.
- A reversal or correction might happen if the price gets rejected at the resistance or if it starts pulling back below the MYR0.74 support.
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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.