SOLUTN-WA (26/11/2020) strong upward momentumThe counter is on uptrend channel and making its ATH since 18 November 2020. In hourly chart, Stochastic & RSI are both showing overbought, with MACD showing a probable breakout. A continuation of high volume could continue the momentum with TP of 1.12 (Fibo 1.272) and Support at 0.660 (RRR 1:1). Using Gann Square of 9, resistance is at 0.91/0.96/1.01/1.06/1.11/1.16/1.21 and support at 0.86/0.81/0.77/0.73/0.69.
Banker chip is already 100% showing a good momentum in the price action.
Its motherstock (SOLUTN) has quite high balance float (58% of 323M shares) compared to its closest competitor in same sector - SUCCESS (8% of 249M shares). However, its vaccine sentimen couple - BINTAI (71% of 350M shares) has much larger float. With SOLUTN's Covid-19 vaccine venture sentiment, we could expect huge volume in this stock few more months to come.
SOLUTN has been classified as Syariah compliant on 26-November-2020, therefore would increase buying interest from Syariah buyers.
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Tbnu
FAJAR (20/11/2020) on strong upside biasFAJAR is riding uptrend channel since its lowest dip during start of MCO back in March-2020.
It is currently set to test resistance zone (0.45-0.46). Since its already on the impulse wave for quite a while, it could probably retrace to 32.8% @ 0.425 before continuing the upward momentum.
However, should it breakout the resistance 0.46, it could test next resistance at 0.495, 0.520 and 0.550.
We hope to see more volumes to push the stock price up higher. Banker chip is slowly increasing.
The stock has quite small balance float (46% of 373M shares) but still a bit higher than its closest competitor HOHUP (38% of 412M shares). This adds a bit of friction to its price movement.
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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.
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OPENSYS (20/11/2020) towards ATH ?The counter is riding major uptrend channel, and looks like forming an ascending triangle pattern. In H1, it shows a high volume which pushes the price up during last hour Friday (20-Sept), and looks like momentum will continue on Monday with Stochastic crossing up.
Resistance zone is around 0.680-0.715. Breakout of this zone could set OPENSYS to a new ATH journey with TP 0.765, 0.880, 0.975 with RRR 1:1.3. Failed to break 0.680 would bring the price to test support at 0.6 and 0.515.
The stock has small balance float (38% of 446M shares) about the same with its competitor like EFORCE (43% of 615M shares) or OMESTI (29% of 531M shares). This adds some speed factor to its price movement.
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PRESBHD (19/11/2020) breakout ascending triangle ?After Stock Split at 28-Oct-2020, PRESBHD has started its uptrend channel and forming an ascending triangle. A huge volume spotted today with abount +12% gain just in 1 day. Stochastic shows sign of uptrend continuation inside the channel.
A good entry would be to wait for resistance zone breakout (0.49-0.5) with high volume
EP 0.5
SL 0.43
TP 0.54/0.59/0.65
RRR 1:2.5
The stock has quite large balance float (65% of 709M shares) compared to its similar market size EFORCE (43% of 615M shares) and KRONO (40% of 523M shares). This adds significant friction to price action during tech sector movement.
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Will CARIMIN (19/11/2020) continue downside bias ?CARIMIN has been riding downtrend channel since 4-Aug-2020 and currently is on top of parallel channel. Stochastic showing a downside bias with no breakout sign from MACD.
Volume are quite heavy in past few days probably due to vaccine/covid recovery theme.
If the price action unable to breakout 0.565 resistance zone, it will continue downward in the channel with Support of 0.510, 0.440, and 0.335 being the strongest support.
The stock has very small balance float (24% of 238M shares) compared to its similar market capital stock like ALAM (58% of 1307M shares) or THHEAVY (28% of 2221M shares). This adds significant speed to price movement of CARIMIN when Energy theme comes into play.
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TOPG (17/11/2020) short term up, long term downTOPGLOV has been trading on downtrend channel since a month ago.
With support zone of 6.45, it has a strong resistance at 7.65. Stochastic already showing an immediate upward momentum.There is a large gap of 8.0 - 8.5 which could potentially be filled if the price breakout the 7.65 resistance.
EP 7.00
SL 6.455
TP 7.625
RRR 1:1
Apart from successful vaccine trial news, other negative sentiment that could potentially bring the stock further down
EMCO at Top Glove dormitories: 3,550 workers to undergo Covid-19 tests Source TheEdge
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ACO (17/11/2020) on supportACO is ranging between 0.36 and 0.450 for 3 months and currently on bottom of of the parallel channel. Stochastic has reached oversold area and is trying to make an upside move. No sign of breakout from MACD.
With support zone @ 0.32, and resistance at 0.46, the RRR is abount 1:1.6.
The volume still lacks banker chip which explains the sideway movement.
EP 0.37
SL 0.32
TP 0.450
RRR 1:1.6
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GOCEAN (17/11/2020) battling resistanceGOCEAN is now on a major pullback and riding the downtrend parallel channel.
Stochastic shows a probably short uptrend with MACD still not showing any sign of breakout.
Nearest resistance is 0.225, with support of 0.15 (RRR 2:1 - not a good entry).
On lower timeframe, it seems to be making a limited upside testing the resistance 0.225. With enough volume, it could breakout to meet next resistance at 0.29.
There isn’t much Banker’s chip done on the past month, therefore we could anticipate a slower price movement.
A good entry is to let it break SMA60 resistance and EP 0.230, and ride along until TP 0.280, with Support at 0.19 (SMA10). RRR around 1:1.
The stock has relatively high balance float (72% of 414M shares), comparing with GLBHD (26% of 223M shares). This adds extra friction to its price action when sector theme comes into play.
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GETS (12/11/2020) are you FOMO ?GETS has been rallying +297% in the past month, and is still continuing to complete a higher high for Impulsive Wave 3.
Next TP for GETS could be at 4.00 (Fibo extension 1.272). MACD indicator didn’t show any form of weakness at this time. Stochastic still showing a strong overbought.
However, should it drop, it could go down as low as 1.26 (Fibo retracement 0.618).
The stock has a very small balance float (51% of 126M shares), however still not higher than the ultra light HARBOUR (6% of 400M shares).
If you were to enter now, the RRR is about 2:1, and that’s quite risky.
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AT-WC (13/11/2020) to the moon?As of Friday closing (13/11/2020), the H4 chart seems having selling pressure, however still looks neutral on daily chart.
Based on Stochastic, it didn’t show any sign of weakness yet even on lower timeframe. MACD still showing a breakout with less the gap getting bigger - positive news.
Organically, it could probably pullback to SMA10 support first before fly higher.
Support could be @ 0.23 / 0.19 / 0.15 at the moment, and immediate target could be 0.28 / 0.31 / 0.325 (Fibo 1.272)
With TheEdge news and KYY’s Target Price for AT’s at 0.75 (based on P/E 15), it could give a good sentiment for AT & AT-WC to close higher during the week
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News Catalyst:
14/11/2020 AT Systematization weekly trading volume breaches 10 billion shares The Edge
15/11/2020 KYY: ATS is an exception to my stock selection rule KYY Blog
ASIAPLY (12/11/2020) on weaknessThe stock is currently in sideway channel, trying to find a new lower low for Corrective Wave B. Based on oversold Stochastic, it could continue downtrending probably slightly outside the channel before limited upside for Wave C with resistance @ 0.500
We anticipate the support zone to be around 0.245-0.38. With banker chip flushed away, the stock might need better sentiment to start picking up more traction.
The stock has a slightly large balance float (60% of 710M shares), relatively compared to ANCOM (43% of 252M shares). This adds more friction for price action without any news or sentiment.
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TEXCHEM (12/11/2020) on weaknessIn the past 91 days, this stock has undergone huge selling pressure and down by -46%, and now is on Corrective Wave C to find a new lower low. With Stochastic in overbought zone, the stock could continue in downtrend to find a new support around 0.618 level (0.600). A strong support is at 0.565.
A good entry would be to wait for the downtrend line breakout and a reversal pattern near support zone (fibo level 0.618), and Stochastic to start entering 20+ region.
The stock is Non Syariah (NS), so won’t be suitable for Syariah trader.
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NAS100USD direction (11/11/2020)Riding in minor downtrend channel to make a new HL as confirmed by Stoch, NAS could touch the 11149 point before making a run with resistance of 12104, 12431, and 12906 (Fibo extension 1.272). Support is at 11071 and 10462 respectively.
XOX in correction-modeXOX currently in major downtrend based on parallel channel and its riding Correction Wave B to find a new Lower High.
There are potential limited upside to meet resistance @ 0.170 with Support @ 0.09 (RRR 1:2.2).
Breaking the downtrend channel could bring XOX to a new uptrend Impulse Wave 1 with Resistance area around 0.245
However, if 0.09 support is broken, next support could be as low as 0.055.
Volume is trading low at the moment, with not much news to report.
Banker chip is also none means there are no push from institutions.
With XOX high balance float (70% of 3.076 Billion shares), it needs bigger player to push the price higher. Relatively comparing to MYX:SEDANIA (40% of 302 Million shares) and MYX:OCK (20% of 958 Million shares), more injection needed in XOX to make the price move. Currently only 2 Corporate investors riding with XOX (KGroup, and MARA Inc making up of 12.97%) [ Source ]
Additonally, XOX will also need more good catalyst/news, like what it did on 26 Aug ( Agreement with AliPay Labs +57% in 2 days).
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p/s: I'm no expert, only a newbie trader practicing my new understanding on EW. Please help to feedback if you see any room for improvement. Thanks everyone.
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.
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Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
AT-WC (10/11/2020) runs amok (again?)The stock closes with huge buying pressure with volume reaching all time high, along with the price action.
If momentum continues, using Gann Square of 9, next resistance would be at 0.23 and 0.28 with Support at 0.19 and 0.15. The stock could complete Wave 3 at 0.23 zone, before pulling back to around 0.15 (38.2% Fib Retracement) for Wave 4.
Currently the price already exceed upper Bollinger band, therefore is at risk of pullback anytime soon. Entering now is very risky, therefore, its good to wait for a pullback and buy on dip.
Below news catalyst could have influenced the price action
6/11/2020 AT Systemization signs distributorship agreement with LKL Source The Star
5/11/2020 Ministry drafts plans to keep Malaysia's leadership in rubber glove sector Source TheEdge
28/10/2020 AT Systematization expects glove-making capacity to reach up to 2.6 bil pieces per year by June 2021 Source TheEdge
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Disclaimer: I’m a newbie trader practicing my knowledge. If you like my analysis, please consider following and help to feedback if you see any room for improvement. Thanks everyone.
AT-WC (9/11/2020) runs amokAT-WC begins Wave 3 @ 0.06, and its not stopping ever since. Extending Time based Fib to 238% of Wave 1, this wave could end at 0.165 and pullback for Wave 4 towards 0.13 (Fib Retracement 38.2%).This makes 0.12-0.13 a strong support zone.
Volume is extremely good, with banker chip 100% - to guarantee a good show.
Its motherstock MYX:AT has a heavy balance float (40% of 3162M shares), relatively compared to MYX:CBIP (29% of 494M shares). This adds more friction for price action without sentiment. However, a positive sentiment especially on their ventures in Glove manufacturing has ever since accelerated the stock price up, with expectation production of 1.3B glove capacity starting in December-2020.
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Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
HLT-WA potential upsideRunning through an uptrend parallel channel since 11-Sep, HLT-WA has potential to continue making Wave 5, as long as the channel didn't break. Strong support identified at 1.01 and 0.645 region.
Bankers chip still low at this point. It needs to break 50% before it could really fly.
Volume still low compared to August. With Glove-Vaccine sentiment and political uncertainty in Malaysia, the stock might have some slow movement, unless more catalyst generates in Glove sector.
This stock move inline with its big 4 brother, so this is still worth venturing.
TAYOR guys !
p/s: I'm no expert, only a newbie trader practicing my new understanding on EW. Please help guide me to the correct path if you see any room for improvement. Thanks everyone.
Bintai - is sky the limit ?Bintai formed an Ascending Trending Triangle pattern, waiting for breakout strong resistance near 0.75 region. Would 1st October "history repeat itself"?
There a still a long way to go with current Covid 19-Vaccine sentiment, but upside potential is worth the risk. (RRR 1:6)
EP 0.65
TP1 0.74
TP2 0.825
TP3 0.940
TP4 1.120
SL: 0.57
RRR: 1:6
TAYOR guys !
p/s: I'm no expert, only a newbie trader practicing my understanding on trading. Please help guide me to the correct path if you see any room for improvement. Thanks everyone.
ICONIC (8/11/2020) on limited upsideICONIC theoretically has completed Wave 4 @ 0.4, and it should be making its way for Wave 5. However, it is currently on sideway, probably accumulating before making a move. It is currently on a minor downtrend channel with a strong support zone at 0.46-0.48. A strong resistance zone is at 0.625-0.645.
With Bollinger Band expanding and Stochastic oscillating up could means its riding up in the channel, and could make a limited upside at around 0.58 (EP 0.515, TP 0.58, SL 0.48, RRR 1:2)
Volume is okay, but need more to push higher, and banker chip is less than 25% - still more required to have a good show.
The stock has a light balance float (20% of 323M shares), relatively compared to PARLO (36% of 364M shares). This would increase the speed factor for price action. Source
Good sentiment and news could exponentially accelerates the stock further. It is reported that company is seeking approval from shareholders to venture into Glove and PPE manufacturing on 23-October-2020 Source
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Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
MAHSING (8/11/2020) - A new horizonMAHSING completed Wave 4 @ 0.86, and its making its way for Wave 5, if moving within the parallel channel, could end up at around 1.87.
A good entry would be a breakout resistance 1.04, with support zone of 0.86-0.91, and Resistance of 1.26 (RRR 1:2), 1.44 (RRR 1:3.4)
Volume is still good, but not good enough to push it higher at the moment. Banker chip is > 50% - more rooms to grow.
The stock has competitive balance float (21% of 2402M shares), relatively compared to MYX:SPSETIA (10% of 4057M shares). Among institution holding the stock is PNB and Bank of Singapore. This proves the stock has good fundamental, and would result to a lighter price action. Source
Good sentiment and news would exponentially accelerates it - such as the report that MAHSING now is investing MYR150M into gloves production with annual capacity of 3.68 Billion pieces, commencing in April 2021 (Relatively TOPGLOV annual capacity is 85.5 Billion) Source
As of today, highest target price is by AmInvest which is 1.50 (16-Oct-2020) Source
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Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
SALCON-WB (5/11/2020) towards Impulsive Wave 3?SALCON-WB completed Wave 2 in Nov-2 and currently riding upwards for Impulsive Wave 3 journey. This run normally in 3 zigzags before completing the wave. Resistance would be around 0.22, 0.3 and 0.43, with Support level @ 0.08 (Risk-reward is around 1:3.4). Fib Time is used to chart probable Wave 3 completion.
Volume started to increase since 9-Oct, with Bankers chip is taking over the volume, good sign for breakout.
It mothershare's MYX:SALCON has quite large balance float (60% of 1012M shares), relatively compared to lighter MYX:GADANG (49% of 728M shares) and MYX:VIVOCOM (54% of 566M shares). This would make a heavy friction for SALCON price to move. Good sentiment/news are needed to support its journey.
TAYOR guys !
p/s: I'm no expert, only a newbie trader practicing my new understanding on EW. Please help to feedback if you see any room for improvement. Thanks everyone.
