PENIND rounding bottom breakoutCMP 80.05 | Strong Momentum | Increasing profits every quarter for the past 2 quarters | FII / FPI or Institutions increasing their shareholding | New 52 week high
*Not recommendation
Multi-product company manufacturing CR tubes, cold rolled formed sections, electrostatic precipitators, pre-engineered building systems, sheet metal components, and road safety systems
Roundingbottom
SNAP - could be emerging from baseSNAP plunged 10.3% on 1st Feb after announcing yet another quarter of dismal results. However, what happened after that is interesting.
The stock began to recover steadily in the last 3 days on good volume, a stark contrast to the correction the general market was experiencing. This exhibits "hidden" strength / support for the stock.
There is a good chance it is going to test a critical neckline @ 12.94 in the coming days. Should it begin to break above this neckline and also the 200 day MA, then the odds are good then it has entered into a recovery phase.
Let's wait and see.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
TOST - Emerging from BaseTOST hit bottom 8.5 months ago on 12 May 2022 and began a 2 stage basing, lasting 3 and 5+ months respectively (pink and blue box shown on chart).
During its basing, there were high volume accumulations on numerous occasions.
Stage 2 basing occurred over 5.5 months with the stock whip-sawing around its 200 day moving average until the MA is no longer downward sloping but completely flat now (and ready to turn up...).
Yesterday the stock finally pierced above the a critical neckline @ 22.50 and has remained above so far. The odds of this being a successful breakup is much greater now owing to the shift in overall market sentiment.
An aggressive trader would enter on the breakof the neckline (Entry 1) with initial stop loss placed just below the most recent pivot low @20. The more conservative trader could wait until the uptrend is slightly more established and enter at #2.
Watch out for earnings expected on 14 Feb.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
W - strong price actionW had begun to form a saucer base pattern since Sep2022 (4 months basing), eventually cumulating to a break above it's neckline last Friday ( 20 Jan23) on very large volume. The following Monday on 23 Jan23, W announced it will cut 10% of its workforce and the market reacted by gapping the stock straight above it's 200 day moving average on yet another high volume day.
Since then it had pulled back a little, forming a potential bullish flag. Will the recent gap close soon? not necessarily, if it is a breakaway gap (which usually signify the start of a new trend). Can only wait and see.
Meanwhile, it is worth a shot to go long as long as it starts to break above the bull flag, with initial stop loss placed just slightly below the start of the gap @ 46.70. Trail stop up once the trade goes our way.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Recovery for Malaysia Technology SectorWatch the video to see why 2023 will be a recovering tech stock for bursa Malaysia.
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = Resistance
Light Blue = bullish/bearish pattern
Arrow = Double/Trip top/bottom
Red Chip = $$
Green Chip = XX
SHOP - Ready to trend soon?SHOP had been building a rounding base for the past 9 months with 2 (failed) attempts to break it's neckline @ 45.30. The stock finally had a Golden Cross a few days ago on 18 Jan, further solidifying that it is bottoming out.
Even after golden cross has occurred, some stocks can continue to remain volatile within a range for another 2 or even 3 months. Hence a better time to enter long is to wait for a break above a significant neckline (in this case 45.30).
The aggressive trader would enter as the stock starts to break above the neckline (entry 1) although there is a chance this could be yet another false break (but with diminishing odds as the moving averages are now aligning to the upside).
A more conservative trader could wait for further upside momentum by waiting for the 1st pullback above the neckline, and then enter only when the stock starts to break above the last pivot high (entry 2).
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
ICICIPRULI BO, Bulls win the fight, Lets see 😍NSE:ICICIPRULI
#ICICIPRULI shared yesterday as a rounding bottom, after a good fight @ resistance, bully won and price closed above the resistance level.
Sustaining price above the resistance level may give good momentum in stock.
Don't forget to keep in your watchlist 👍
Frontkn Simple Chart AnalysisFrontkn - Rst 3.3 & 3.47 Supp 2.95
Is just a matter of time to have this big rounding bottom to be complete. Let's see
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = Resistance
Light Blue = bullish/bearish pattern
Arrow = Double/Trip top/bottom
Red Chip = $$
Green Chip = XX
Technology Simple Chart AnalysisTechnology - Rst 67.4 Supp 63 area
Same goes to our klse tech chart. If nas100 were to rise & shine, entire market technology sector will follow. Very soon we able to see 67.4 break to go next level.
My 2023 Pick For KLSE Tech Counter as below
Frontkn
Greatec
Penta
KGB
QES
NAS100 Simple Chart Analysis Nas100 - Rst 12180 Supp 10674
During a year period of downtrend, we notice that 10674 is the only area being strongly supported with trip bottom pattern. If this area does not broke, i do believe market wave will continue to move towards a big rounding bottom back to highest rst 16590 area.
The risk to fail this recovery pattern will be the rise of CPI data. That's the only concern.
My 2023 Pick For US Counter as below
META
TQQQ
NETFLIX
AMD
BA
Daily review of ETH interval 4HHello everyone, I invite you to update the latest ETH analysis on a four-hour interval.
As we can see, the price followed the designated Rounding Bottom formation, broke the Resistance Level, then positively tested it and moved upwards, in accordance with the presented movement.
Still the main resistance to which the price is heading is the $1477 level.
However, when it comes to the support that we should take into account now, we can set the support at $ 1408, which is currently being tested by ETH, then our previous resistances are new support for us.
As we can see on the CHOP index, the energy has been spent on the last upward move, while the RSI is moving in the upper range. These data may indicate a moment of respite and recovery of the indicators.
NVDA - Setting up (to Long)The semicons have been rising quite steadily since hitting the lows in mid October.
NVDA has risen 63% from it's low in October and is now flirting with the 200 day Moving Average and a neckline resistence. Last Friday's candle was an inverted hammer which suggests it could consolidate below the neckline for a while more.
With overall market momentum lacking, we are also seeing a fair number of false breakups. Hence always trade a breakup with only "test" positions with tight initial stops just slightly below the breakup levels.
A more conservative trader would probably wait for the first pullback from the break up, ensure that the pullback do not invalidate the breakup (eg any pullback that went back below neckline) and then wait to buy the break high of the initial break up (point 4 on daily chart). While this means we are buying at a high level, it also help us avoid many fake breakups which a weak market is often fraud with.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Kirloskar Ferrous rounding bottomCMP 333.90 | New 52 week high | Good volume | Bullish momentum
*Not recommendation
Kirloskar Ferrous Industries Limited (KFIL) manufacture pig iron and ferrous castings. Business areas of the company encompass Grey Iron castings S.G Iron castings Steel Investment castings and Pig Iron.