PRLEXUS triggered based on MRV1 on closing 18 Dec 23Buy signal triggered based on MRV1 setup at RM0.345;
20% target at RM0.415; stop loss at RM0.310;
2-3 months due to the signal based on the daily timeframe.
**Only for discussion purposes. Not a buy / sell call**
PRLEXUS
PRLEXUS TF(4H) WAVE 5 IN PROGRESSW1 = DONE
W2 = DONE
W3 = DONE
W4 = DONE
W5 = In progress
Look reversal sign for confirmation to entry.
Disclaimer: The idea is for educational purpose only. Trade at your own risk.
PRLEXUS Re-entry BUY chancesAfter multiple times accumulation period, price break MidBB Daily TF indicate strong buyers.
1H TF shows uptrend movement with MidBB cross above EMA50.
Re-entry BUY chances at the Support area 0.920
PRLEXUS-WA - owes a pullback?Just like any other glove stocks, this stock had a good rally in past few days. We believe the stock will continue upside momentum for a while, probably gap up, before continue with a pullback towards area of value around 0.390 (Fibo 38.2%).
Best is to wait to buy on dips in the area of value during pullback.
Sentimen: Covid cases all time high, uncontrolled situation, and possible MCO (Mandatory Control Order) in coming weeks
TAYOR
PRLEXUS-WA (20/11/2020) is testing supportPRLEXUS-WA is on correction mode after making ATH on 20-Oct-2020. After a month and seems its still on its way to make a new LL on the downtrend channel. If it breaks the support zone (0.605-0.650), it could be dropping towards 0.490 (Fibo level 61.8%) to complete its LL.
Its motherstock (PRLEXUS) has higher balance float (64% of 182M shares) than its sector competitor POHKONG (22% of 410M shares) or its common pair CAELY (31% of 195M shares). This could add some friction to its price movement when sentimen is out of its favour.
TAYOR
PRLEXUS-WA (8/11/2020) runs steadyPRLEXUS-WA completed Wave 2 @ 0.640 in 2-Nov-2020, and since then has riding the uptrend channel for about +48.41% in just a week. Nearest support is 0.83, whilst nearest resistance is around 0.985. Good entry would be psychological resistance @ 1.0 with 0.985, and 0.83 as support.
However, if the price breakout the symmetrical triangle with volume, we could entry earlier with TP around 1.09, and Support @ 0.93.
As long as the uptrend channel is respected, the Wave 3 could end up as high as 2.280 (using Fib Extension 1.618)
We are still waiting for volume to come for this stock for it make a bolder movement. Banker chip is already full, means its just waiting for the right moment.
Its mothershare ( MYX:PRLEXUS ) has a relatively small balance float (54% of 182M shares), relatively compared to MYX:POHKONG (22% of 410M shares). This would result to a lighter price action for the stock. Good sentimen and news would exponentially accelerate it.
TAYOR guys !
Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
PROLEXUS - Critical SupportIf breaking below critical support 1.22 on Daily Chart, may leads to downtrend at pullback range.
