Possible Direction of ARBBIt just broke the EMA 200 daily TF with trendline breakout.
A Possible Inverted head and shoulder formation.
A Possible Cup and handle formation.
Volume Breakout spotted.
If it is in uptrend , R1 - R5 will be short and mid term target.
If break through R7 , then long term uptrend can be confirmed.
Possible risk will be triple top formation is in play and it might pull back and retest the 0.135-0.140 level in future.
Trade with your own risk . This is just for case study.
ARBB trade ideas
ARBB is making a triple bottom? ARBB is a timber player company and also ventured into IOT for hydrophonic. With stable positive QR since last 4 QR, the trend still below MA200 but will it rebound from 0.120 or 0.09?
Currently it stood at 0.140-0.155, the counter has BO its triangle shape from large selling since nov 2021. TFweekly shown a double bottom trend. Will it create another upscale or going down to 0.09 before rebounding. The FA is still strong since last year and only the TA is not looking bullish as it ride below MA200 and MA100 for TFW and TFD. it may touch 0.165/0.170 before going down.
If it BO 0.175, it will be another uptrending movement with 0.200/0.210 will be its next resistance.
If it going well for triple bottom it may take 2-4 months to reach 0.330/0.335 for its peak resistance to move upward to break 0.390/0.420/0.550
TAYOR!
ARBB will be going long not too longBased on EW, it seems like it will be going to wave 4 up, before going down. Some of the resistance identified is arrow.
Be careful its like catching a knife, seems slow but can hurt you.
TAYOR please do you own judgement prior to enter. If you are a bottom catcher, wait for the signal, can be by price action, or by trendline.
ARBB - CATCH THE DIP OR NOT?DISCLAIMER
THIS IS NOT AN INVESTMENT ADVICE, TRADE AT YOUR OWN RISK & OPPORTUNITY !!!
As we can see from the chart, it has broken down from its falling wedge(they are supposed to be bullish pattern as it usually indicates reversal) but it broke down with big red candle. One of the main contributors could possibly be the bad QR results. So far the price is consolidating sideways and it should not fall and close below the support level of 0.275. The RSI levels are pretty near the oversold levels and 0% banker chips. I don't really recommend this for day trade due to its low daily volume and the bad sentiment on this counter. Overall it's in a strong downtrend so it's not really recommended to entry now unless you want to catch the dip with support level as your reference.
R: 0.295, 0.315
S: 0.275
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ARBB Major Support & ResistancePersonally, what I learnt is there must be a Technical Analysis Strategic Plan in order to increase the risk-to-ratios favourable risks.
1. Draw Support & Resistance
2. Identify the stages (Accumulation, Advancing, Distribution, Declining)
3. Entry Triggers
4. Stop Loss
5. Exits
I have learnt during my past mistakes that we should let the stock price comes to us, rather than us chasing the stock prices!
ARBB : Gathering storm (Medium term - Wave analysis)Our wave analysis on ARBB reveals the stock is currently forming a double three (as of 05/05/21) corrective pattern of wave iv of a larger degree wave (iii). The double three here is comprised of an expanded flat followed by a contracting triangle; such a sequence is a typical type of a double three. As a side note, triangles in Elliot's wave principle usually preceed the final actionary wave in a pattern of one larger degree than the corrective combination which in this case the contracting triangle might preceed the start of wave v. We do not know whether the stock is ready to move higher (possibility of a triple three correction) but when a triangle appears within a combination correction, one might want to watch closely how the next price action will unfold. Despite the uncertainty whether the correction is coming to an end, on a technical standpoint we are bullish on ARBB on a medium term basis. If the correction does end soon and wave v starts we would put a hefty target of RM0.77 using 1.618 fib extension level from the length of wave i.
ARBB 20/4/202120th April 2021
Technical Stock Idea: ARBB
ARB BERHAD (7181)
We see ARBB yesterday closing with bullish engulfing pattern and today share price is testing RM0.385 recent resistance, if today share price can break we believe share price will going to challenge next resistance level. Potential small trade can participate.
🎯 R1: RM 0.415
🎯 R2: RM 0.435
🎯 R3: RM 0.460
✂️ S1: RM 0.360
✂️ S2: RM 0.340
ARBB on the rideARBB has seen the strong support on the RM0.35
The next earning expect to overgrowth with the current QR, consolidation time*.
The best time to buy stock is the end of the March/Early of the April. This has proven with some of the historical data clearly shown window dressing on the stock market. As the time of writing, speculation on the stock market should be on cautious for trust in the investor to enter the market.
This is not a buy/sell call. Trade on your risk.
#ProjectDuitRaya2021
ARBB- Volume getting smaller as price getting lower (profit taking sign).
- Volume getting smaller as pennant width getting shallower.
- Broke out pennant with volume increased.
- Retracement could be counted as completed (retraced at around 61.8% fibo) and rebound would be continued.
- Current price above EMA 9,20,50,200.
R1: 0.42
R2: 0.46
R3: 0.51
S: 0.33
ARBB second attempt push up higherAfter a long time of sideways and accumulation,
Volume is pushing in the last 2 hours before trade ends.
Expecting a breakout will come very soon.
Rish & Reward = 2
TP 1 = 0.315
TP 2 = 0.40
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Disclaimer
This information only serves as study references, does not constitute a buy or sell call.