Bursamalaysia
JCY 31/8/2020JCY rebounded strongly upon dropping below its uptrend line. According to the fibonacci entrancement level, it managed to bounce back up upon touching/breaching the 0.595 level, demonstrating bullish sentiment still intact. Overall, from what i can see, i believe JCY's uptrend momentum still intact, especially after its strong retracement/rebound. I believe current price level provides a good entry too, RSI at oversold and price is near support level.
EP: 0.605-0.610
TP: 0.735
CL: 0.580-0.570
KLSE: GTRONIC - Coiling for a breakoutA Malaysian semiconductor stock listed on the KLSE, coming towards the upper boundary of a 5-year consolidation pattern.
Depending on how you draw it, it could be a rectangle or an ascending triangle - no matter, the pattern is bullish at this point in time.
The icing on the cake is the small symmetrical triangle forming on the daily chart, which will work nicely as a launching pattern once there is a breakout.
TIME TO CATCH THE MOMENTUM IN KLCIThe strategy is simple. Buy at support as we can see the price consolidate and still in bullish momentum. Watch closely the price action around the green zone. Cut loss if the price break the support line 1548 and always take into consideration your risk and money management. Happy trading!
