- Trend: The overall trend appears to be bullish in the medium term. After reaching a low in March, the stock has been making higher lows and higher highs, indicating an uptrend.
- Moving Averages: The stock is currently trading above both the short-term (blue line) and long-term (green line) moving averages, which is typically a bullish signal. The moving averages are also sloping upwards, confirming the uptrend.
- Support and Resistance: Key support levels appear to be around MYR0.320-MYR0.330, while resistance seems to be around MYR0.440-MYR0.455 based on previous price action.
- Price Action: The stock has shown volatility, with several large candles both up and down. Recent price action shows a pullback from the August highs, but the stock seems to be finding support and potentially resuming its upward movement.
- Momentum: While there was strong upward momentum from June to August, it has slowed recently. The current candle (green) suggests a potential resumption of bullish momentum.
- Patterns: There's a potential cup and handle pattern forming from July to September, which if confirmed, could be bullish.
- Overall, the technical indicators suggest a cautiously bullish outlook. The stock is in an uptrend but experiencing some consolidation. Traders might watch for a breakout above recent resistance levels as a potential entry point, while also being aware of the support levels for potential stop-loss placement.
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➀➁➂➃➄
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.