Hengyuan Simple Chart AnalysisMonitor for a possible retracement ended here to breakout. As long there is an energy trend on going, it will be a good move for aggressive trader.
Hengyuan
HENGYUAN 4324 bursa saham malaysia stock analysis 14-May-2022Short term analysis:
Price comes to previous high range of 7.00 dated 08-Dec-2020
1) Price has divergence with Bull Bear Detector (BBD) : higher price but lower BBD candle
2) Price has divergence with Smart Money Flow (MI02b) indicator : higher price but RED bar in MI02b (profit chip) getting lesser,
this may indicates traders are selling off for profit!
Mid term preparation:
Wait for price to break above 7.00 previous high resistance to continue the uptrend momentum
#bursasaham #malaysiastockmarket #hengyuan #4324 #bursamalaysia #malaysia #bursa
#trendline #trendanalysis #technicalanalysis #chartpattern #trendpattern #uptrend #divergence
#supportresistance #technicalindicator #indicator #waveanalysis
Disclaimer:
This published Idea is solely for the purpose of education and opinion sharing, and should not be construed as investment advice or recommendations to buy or sell any security.
Get your trade advise from a legit broker, you are responsible on your own trade.
HENGYUAN TECHNICAL ANALYSISTechnical analysis for HENGYUAN Stock based on Trend Analysis, Chart Pattern and VPA
HENGYUAN - Consolidation PhaseHENGYUAN
Theme: Energy
Rst: 5.43
Spp: 5.16
Slightly adjustment to the lower band of pennant formation, apparently the latest 6 candles remain sustain at this area, no breakdown happens yet. Overall neutral.
Hengyuan Continue Momemtum?MYX:HENGYUAN
Slow Turtle Buy
FiFT +ve
Atom Buy starting move above river
MCDX+ Banker Turn Strong
Banker 25% +
KLSE: HengYuan; 4324Today, I want to talk about MYX:4324
According to the chart, we can see that there's small accumulation phrase after the big downtrend (with build up) signifies that the big boys are accumulation the shares.
After the accumulation phrase, it broke out bullish and form a descending triangle and broke back down to the support of the accumulation phrase. This shows the basic textbook "resistance turns support" as the price comes back to retest the previous broke out resistance and jump from it.
Will play close attention at this point and will see if the price holds or not.
Will cut lost if the price broke below support @RM5.13
HENGYUAN - Bouncing Dead Cat, Going to Ground Again?Laburlah Technical Coverage (23-MAY, Wednesday):
HENGYUAN
Technical Analysis Breakdown
1. Trend: Bearish
2. RSI & Stochastic: Bearish
3. MACD: Bearish
4. Resistance level: 9.395
5. Support level: 5.905
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
HENGYUAN - Being Blocked By Formidable ResistanceLaburlah Technical Coverage (18-APR, Wednesday):
HENGYUAN
Technical Analysis Breakdown
1. Trend: Weakening reversal
2. RSI: Retracing
3. Stochastic: Bearish crossover
4. Resistance: 9.87
5. Selling pressure: Growing
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
