MPAY
Bursa Managepay Systems Berhad (MPAY)As appear, there is an potential demand at the price range RM 0.165 - 0.155 and next is RM 0.125 - 0.105. To secured Long position, we can buy from the price in between RM 0.195-0.180 due the the current pricing is at the Weekly & Monthly SnR Zone.
Disclaimer: If you choose to follow this trading idea you do so at your own risk after giving thorough and reasonable thought and consideration to your actions. All trading is high risk and one of the most difficult activities you will ever consider. Don’t trade with money you can’t afford to lose.
MPAY (27/11/2020) forming symmetrical triangleOn daily chart, MPAY is forming (slightly) symmetrical triangle with Resistance 0.185 and Support 0.135 with EP 0.155 (RRR 1:1.5).
In last impulsive wave, it leaves a breakaway gap at 0.105-0.125 zone. If price we’re to test the support 0.135, it could continue going down to fill this gap.
MACD already send a signal for breakout, and RSI is showing momentum building up. Volume is quite good today.
MPAY has quite large balance float (47% of 710M shares) compared to its closest competitor DATAPRP (36% of 591M shares). This could create some friction to its price action.
MPAY has been classified as Syariah compliant on 26-November-2020, therefore would increase buying interest from Syariah buyers.
TAYOR
