PTT SYNERGY GROUP BERHAD - [PTT]Trend Analysis :
Short-term: The price has been consolidating after a sharp move up in June. The recent price action shows a potential rounding bottom formation, which could indicate a reversal to the upside.
Medium-term: There appears to be a pullback from the high in early August, suggesting a correction phase.
Bollinger Bands :
The price is currently near the middle of the Bollinger Bands, suggesting neutrality. However, after touching the lower band in mid-August, the price has started to move upwards, indicating the possibility of a reversion to the mean or even a breakout.
Volume Analysis :
The volume shows a significant increase during the sharp upward movement in June, suggesting strong buying interest. However, volume has been lower during the consolidation and correction phases, which is typical as the market digests the previous move.
Support and Resistance :
Support: The recent low around MYR2.00 serves as a key support level.
Resistance: The price level around MYR2.40, where the 50-day moving average is currently located, acts as resistance. Breaking above this level could signal further upside.
Candlestick Patterns :
The recent candles show small-bodied patterns with long wicks, suggesting indecision in the market. This could indicate a potential reversal if a strong candle appears.
Conclusion :
The stock is currently in a consolidation phase after a significant move up. The price is testing the 50-day moving average, and a breakout above this level could lead to a bullish continuation. Watch for a break above MYR2.40 with increasing volume for a potential entry signal. Conversely, a breakdown below MYR2.00 might indicate further downside.
MUI PROPERTIES BHD - [MUIPROP]Trend Analysis :
Uptrend: The chart shows a strong uptrend starting from late July to early September. The price has been making higher highs and higher lows, which is characteristic of an uptrend.
Candlestick Patterns :
Bullish Candles: The recent candles are mostly bullish, with the last few candles showing strong upward movement, indicating buying pressure.
Volume: The volume bars indicate a significant increase in trading volume, especially during the last few trading days, which suggests strong participation in the market, likely from institutional buyers.
Bollinger Bands :
Upper Band Interaction: The price has consistently tested or exceeded the upper Bollinger Band, suggesting strong bullish momentum. However, this could also indicate that the price is overextended and might be due for a pullback.
Band Expansion: The bands are widening, indicating increased volatility. This often occurs in strong trending environments.
Support and Resistance :
Support: A support level can be identified around the MYR0.380 area, which is where the price bounced back in late August.
Resistance: The immediate resistance is around the MYR0.465 level (the high on the day of the chart), which the price needs to close above for the continuation of the uptrend.
Potential Scenarios :
Continuation of Uptrend: If the price can break and close above the MYR0.465 resistance with continued high volume, the uptrend is likely to continue.
Pullback: Given the overextended state with the Bollinger Bands and recent sharp upward move, there could be a short-term pullback towards the support level around MYR0.380 or possibly the moving average line.
Conclusion :
The stock is currently in a strong uptrend with bullish momentum. However, caution should be exercised as the stock might experience a pullback due to overextension. Watching for how the price behaves around the MYR0.465 resistance and monitoring volume levels will be crucial for determining the next move.
GBGAQRS - Analysis on price movementN wave with E, V & NT projection.
The price is below the Kumo, indicating bearish momentum. The Kumo itself is bearish and relatively thick, suggesting strong resistance overhead.
The Tenkan-sen have crossed below the price, which might indicate a potential short-term bullish correction but within a generally bearish context.
Volume is low, indicating a lack of momentum, which is typical in a consolidating market or at the beginning of a reversal.
R1 - 0.380
R2 - 0.395 (Senkou span B)
S1 - 0.345 (Kijun-sen)
S2 - 0.325
As long as price maintained above 0.345, a potential bullish move is considered and shows strength moving towards 0.390. Alternatively, a conservative entry could be above 0.390 after confirmation of a bullish move.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
VLB - Analysis on price movementN wave with E, N & NT projection.
Currently price is near the edge of upper Kumo, indicating that the stock is at a critical level between bullish and bearish momentum. The Kumo appears to be slightly bullish.
Tenkan Sen is flat, which often indicates a potential consolidation phase.
The price is hovering around the Kijun-Sen, which acts as dynamic support/resistance. It's currently being tested as a support level.
The current movement suggests a potential breakout toward the projected levels (N and E waves).
If price breaks above the descending triangle and NT level (0.580). This would confirm the continuation of the uptrend.
R1 - 0.530 (Tenkan Sen)
R2 - 0.580 (52w high)
S1 - 0.500 (Kijun Sen)
S2 - 0.475 (Senkou Span A)
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
SDS GROUP BERHAD - [SDS]Trend Analysis :
Short-Term Trend: The stock has been in an uptrend since early August, with a notable increase in both price and volume, indicating strong bullish momentum. The recent candles show higher highs and higher lows, typical of an uptrend.
Medium-Term Trend: The medium-term trend has been sideways from May to July, with prices consolidating between MYR0.85 and MYR1.05. The recent breakout above MYR1.05 signals a potential continuation of the uptrend.
Bollinger Bands :
The Bollinger Bands are expanding, which often indicates increased volatility. The price recently touched the upper band, which is generally seen as a sign of overbought conditions in the short term. However, the strong bullish candles suggest that the uptrend might continue, especially if the price stays above the middle band (20-day moving average).
Volume Analysis :
The volume spikes seen during the recent uptrend confirm the strength of the breakout. Increased volume on up days is a positive sign and suggests that the recent price move is supported by strong buying interest.
Support and Resistance Levels :
Immediate Support: Around MYR1.05, which was the previous resistance level before the breakout. If the price pulls back, this level could act as a support.
Immediate Resistance: Around MYR1.20, which is where the stock is currently trading. If the price continues to rise, this level could be tested as the next resistance.
Candlestick Patterns :
The recent candlestick pattern is a strong bullish candle, which suggests that buyers are in control. However, watching for any reversal patterns at the resistance level is essential.
Overall Sentiment :
The overall sentiment for SDS appears to be bullish in the short term, with strong price action, volume, and moving averages supporting the uptrend. However, traders should monitor the price action closely near resistance levels and be cautious of any signs of reversal or consolidation.
HUP SENG INDUSTRIES BHD - [HUPSENG]Bollinger Bands :
Bands: The chart displays Bollinger Bands, which consist of a middle band (likely a simple moving average) and an upper and lower band.
Current Price: The price is currently near the upper band, which suggests the stock might be overbought. This could indicate potential resistance and a possible pullback if the price doesn't break through this level.
Price Action :
Trend: The recent price action shows a recovery from a previous downtrend that started in early August. The strong upward movement with higher highs and higher lows suggests a bullish reversal.
Candlesticks: Recent green candles with larger bodies indicate strong buying interest. The increase in volume during these upward moves further confirms this bullish sentiment.
Volume :
The volume has picked up significantly during the recent uptrend, which is a positive sign as it confirms the strength of the move.
Key Support and Resistance Levels :
Resistance: The immediate resistance level is around the 1.18 - 1.20 MYR zone, where the price recently peaked.
Support: Immediate support is likely around the 1.05 - 1.10 MYR zone, close to the 50-day moving average.
Overall Sentiment :
The stock appears to be in a short-term uptrend, with potential resistance ahead. The movement above the 50-day moving average, along with increased volume, suggests continued strength, but the proximity to the upper Bollinger Band warns of potential short-term pullback or consolidation.
Strategy :
Bullish: If the stock can break above the resistance level at 1.18 MYR with strong volume, it could signal a continuation of the uptrend.
Cautious: Traders might want to watch for a pullback towards the support area around 1.05 - 1.10 MYR for potential buying opportunities.
MSM, come to papa and mama?The stock is currently oversold, as indicated by the Relative Strength Index (RSI). Additionally, the Moving Average Convergence Divergence (MACD) is below its signal line, suggesting a bearish trend. This combination of technical indicators may suggest that the stock is currently out of favor with market participants.
It is often advisable to avoid stocks that are being actively sold by market movers, as they may continue to decline. Instead, it may be more prudent to focus on stocks that are showing signs of strength or are being actively bought by market participants. By playing along with market movers, you can potentially increase your chances of profiting from the market's momentum.
It's often easier to make profits when you're in sync with the overall direction of the market.
Disclaimer: Please be informed that all stock picks are solely for educational and discussion purposes; they are neither trading advice nor an invitation to trade. For trading advice, please consult your remisier or dealer representative.
HWATAI, still downhill.,The stock is currently oversold, as indicated by the RSI. However, it hasn't formed a strong base, which is a period of consolidation before a potential reversal. Therefore, it's advisable to wait for a clearer sign of a reversal before considering buying.
Buy and sell so you can sleep better at night. If you lose sleep after a trade, evaluate why you bought or sold.
Disclaimer: Please be informed that all stock picks are solely for educational and discussion purposes; they are neither trading advice nor an invitation to trade. For trading advice, please consult your remisier or dealer representative.
PBBANK, still can go further?The overall outlook remains positive, but it's important to note that negative divergence has formed on both the daily and weekly charts. This indicates that the price is moving higher, but the momentum behind the move is weakening.
As a result, it's prudent to protect your downside by setting a tight trailing stop loss. A trailing stop loss is an order that is placed at a certain distance below the current market price. If the price falls to the stop loss level, the order is triggered and your position is closed, limiting your potential losses.
By taking these steps, you can help to manage your risk and potentially increase your chances of profiting from the market.
It's crucial to not only know the right time to buy but, more importantly, to be ready and willing to sell when the time comes!
Disclaimer: The mentioned stocks are based solely on personal opinions for educational and discussion purposes only. There are no buy or sell recommendations. Trading involves financial risk, and you are responsible for your own decisions. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the information contained herein.
Sarawak Oil Palms Bhd (MYX: SOP)Current Price: 2.93 MYR
The stock has recently shown a strong upward movement, breaking above the 50-day and 100-day moving averages. Consider entering a position if the price stays above the 3.00 MYR level with confirmation from volume.
Primary Target: 3.30 MYR (short-term) based on the next resistance level.
Stop Loss: 2.75 MYR, slightly below the 100-day moving average to protect against downside risk.
Short-Term: (1-3 weeks) — This plan is focused on capturing the immediate price movement above key moving averages.
The company has shown strong financial performance, which might support upward momentum in the stock price. However, external factors like competition from Indonesian producers may introduce volatility.
This plan is for educational purposes only and not financial advice. Consult with a financial advisor before making investment decisions.
SHH Resources Holdings Bhd (MYX: SHH),The stock is trading at 1.33 MYR, it’s above both the short-term and long-term moving averages (as suggested by the red and blue lines). This is generally considered a bullish signal.
Confirmation: Ensure the price holds above 1.28 MYR, as it’s the recent low. A further confirmation would be if the stock breaks above the recent resistance level near 1.35 MYR with good volume.
Primary Target: 2.10 MYR based on the projected price target from the chart.
Partial Profit Target: Consider taking partial profits at around 1.75 MYR to secure some gains if the stock shows signs of slowing down.
Reasonable stop loss based on current price action might be set at just below 1.10 MYR. This level aligns with recent support and keeps your risk-to-reward ratio favorable.
**This trading plan and analysis are provided for educational purposes only. It is intended to help you understand the technical aspects of stock trading and should not be considered financial advice. Please conduct your own research and consult with a certified financial advisor before making any investment decisions. Trading stocks involves significant risk, and it’s important to invest only what you can afford to lose.
BERMAZ AUTO BERHAD - [BAUTO]Price Action
The stock price is at MYR2.51, showing a gain of +0.07 or +2.87% for the day.
The recent price action indicates an uptrend, with the price rising from a recent low near MYR2.38 to its current level of MYR2.51.
Bollinger Bands
Upper Band: The price is approaching the upper band, which could indicate an overbought condition.
Middle Line (SMA): Price is above the middle line, indicating a bullish trend.
Lower Band: The lower band remains distant from the current price action, showing support.
Volume
Volume for the day is 3.005M.
There is a visible increase in volume coinciding with the upward movement in price, which typically confirms the strength of the current uptrend.
Resistance and Support Levels
Resistance: Immediate resistance is likely near the upper Bollinger Band, which is around the MYR2.67 level.
Support: The middle Bollinger Band (SMA) around MYR2.44 acts as immediate support.
Overall Trend
The stock is showing a bullish trend on the daily chart, with a potential for further upward movement. However, the proximity to the upper Bollinger Band suggests that there might be some resistance, and a pullback could be possible if the price fails to break through the resistance level.
Key Indicators to Watch
Breakout or Reversal: If the price breaks above the upper Bollinger Band with strong volume, it may continue to trend higher. Conversely, if it fails to break above, a pullback to the middle Bollinger Band is possible.
Volume: Continued high volume will be key to confirming any breakout.
CCK MARKING UPClassic wyckoff Re-Accumulation of Schematic #1
With spring in the house
What attracted me the most, is that, there was an absoprtion past 2 days as evidence by the volume (Black Arrow)
With breakout today accompanied with huge vol, this is a sBar (Siginificant Bar) as mentioned by Prof Roman in his teaching. I called it Timing Bar
Thus, i went with a heavyweight position on this one
Risk is always respected
in view of that, i humbly initiated position as attached
MRCB - Require an aggressive bullish momentum.N wave with E, V, N & NT projection. Currently price and Chikou Span still below Tenkan Sen, Kijun Sen & down Kumo, considering the market still in bearish position. Require an aggressive bullish momentum to push the price upward with Tenkan Sen as an immediate resistance. if the price breaks above the Kumo and the Chikou Span confirms the breakout, the trade might develop into a stronger bullish trend and towards the completion of the Y wave.
R1 - 0.550 (Tenkan Sen)
R2 - 0.570
S1 - 0.520
S2 - 0.470
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
VARIA BERHAD - [VARIA]Overall Trend :
The stock has shown a strong bullish trend since mid-June, with the price rising from around MYR0.84 to current levels above MYR1.00.
Price Action :
The stock experienced a significant spike in mid-July, reaching a high around MYR1.08.
After a pullback, it has recently made another strong move upward in August.
Current price is hovering around MYR1.04, showing continued bullish momentum.
Volume :
Volume spikes coincide with major price movements, particularly noticeable during the July and August rallies.
Recent volume appears to be supporting the upward price action.
Support and Resistance :
A key support level seems to have formed around MYR0.90-MYR0.92.
Resistance appears to be around the MYR1.08 level, which was the previous high in July.
Candlestick Patterns :
Recent candles show long green (bullish) bodies, indicating strong buying pressure.
There are some upper wicks on recent candles, suggesting some selling at higher levels.
Momentum :
The stock appears to be in a strong uptrend, with higher lows and higher highs being established.
Potential Scenarios :
Bullish: If the stock breaks above the previous high of MYR1.08, it could signal further upside potential.
Bearish/Consolidation: A pullback to test the support around MYR0.90-MYR0.92 could occur if profit-taking sets in.
Overall, the technical analysis suggests a bullish outlook for Varia Berhad in the short to medium term, with strong momentum and trend indicators. However, traders should be cautious of potential overbought conditions and watch for any reversal signals.
POSSIBLE 100% MOVEMENTThis stock currently on clear uptrend. Now making a pattern called bullish pennant. Price now at 0.5 - 0.618 fibbonaci level from starting price that make them move aggressively upward. Target now at RM6.00 with suitable risk reward ratio. Drop below fibbonaci level could be failed setup
PGLOBE - Analysis on price movementN wave with NT & N projection.
The current price is at MYR 0.315, which is just above the Kumo. The price recently tested the Senkou span B, finding support at this level. This positioning suggests a neutral to slightly bullish outlook, with the potential for a rebound if the price continues to stay above the Kumo.
The Kumo is bullish ahead, albeit thin, indicating that while there may be a slight upward momentum, it’s not strongly supported. The cloud's future projection is bullish, providing some room for the price to move upwards.
R1 - 0.33 (Senkou span B)
R2 - 0.340
R3 - 0.42 (52w high)
S1 - 0.305
S2 - 0.290 (Senkou span B)
Require a strong bullish move to break all the resistance levels to reach the target.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
MUIPROP 1D - Potential price targetN wave with E, N, V & NT projection. 4 times hit 52w high but failed to break the line. Is there a strong momentum to break 52w high and then push the price to the target price.
R - 0.385 (52w high)
S - 0.325
Note:
1. Analysis for education purposes only
2. Trade at your own risk
CUSCAPI - Potential target analysis for price movementN wave with E, N & NT projection.
The current price is at MYR 0.270, sitting below the Kumo, which suggests bearish momentum. The price recently attempted to break above the Kumo but was rejected, indicating the cloud is acting as a significant resistance level.
If the price breaks above the 0.285 level with strong volume. This would indicate the price has the potential to reach the N and E targets.
R - 0.285
S1 - 0.25
S2 - 0.23
Note:
1. Analysis for education purposes.
2. Trade at your own risk.
SDS PROBABLY MARKING UPAs plotted, This looks like Typical Re-Accmulation (Rising Bottom, Schematic #2)
What interesting to me, is that the incoming supply is reducing and evaporating as evidence by vol @ 29/7/24 (Black Arrow)
-As mentioned by David weiss : Probably this is The Contraction
Thus i humbly initiated my position as attahced
Pure Wyckoff, Anything can happen
YTLPOWR, the DC theme still on?The stock remains below the downtrend line, and the MACD is still in a bearish crossover.
While both the MACD and RSI are showing positive divergence, the strength of this signal remains uncertain. For a sustained move, the price needs to break out of the current downtrend; otherwise, it may just be suitable for a quick FIFO trade.
It's essential to seek at least three confirmations before making a move—anything less is simply gambling.
Disclaimer: The mentioned stocks are based solely on personal opinions for educational and discussion purposes only. There are no buy or sell recommendations. Trading involves financial risk, and you are responsible for your own decisions. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the information contained herein.
