AYS Venture 5021 Bursa Saham Malaysia stock analysis 17-Feb-2023Short term analysis: (what we see from the chart)
Price crossed-up MA50 (blue) & MA200 (white), possible to start bullish uptrend.
Higher High Higher Low of price pattern is formed!
Short term resistant @0.48
Smart Money Flow (MI02b) indicates Profit-chip (red bar) is increasing & Lost-chip (green bar) is dropped to minimal.
Trade Setup Trial:
Cost price 0.44
TP1 0.575
CL 0.41
Risk Reward Raio - 6.8% : 30.7% (1 : 4.5)
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#supportresistance #technicalindicator #indicator #waveanalysis
Disclaimer:
This published Idea is solely for the purpose of education and opinion sharing, and should not be construed as investment advice or recommendations to buy or sell any security.
Get your trade advise from a legit broker, you are responsible on your own trade.
AYS trade ideas
AYS in harmonic patternConsider to study and monitor AYS where its daily chart resembles that of a BAT bearish harmonic pattern where a potential swing trade can be taken from fibo886 at Point C to fibo886 extension at Point D. The probable EP is 0.545 to retest fibo886 and the potential TPs are 0.745 at Point B and 0.910 at Point D. The probable CL is 0.510 which is below Point A. At present, the current price is supported by EMA200 which is probably a touch-point for rebound. This is not a trade or investment call but for study and sharing purposes only with a view to develop and enhance one's trading knowledge and skill. Trade at your own risk.
A Reversal Signal!The price indicates a reversal signal where significant price movement with high volume confirmed the signal.
MACD and OBV charts indicate a divergence signal.
Let save AYS in WL and watch out for significant price movement or when the candlestick body closes above the MA20 line.
R 0.675
S 0.560
AYS probable reboundAYS' bullish impulse pullback briefly consolidated and rebounded slightly above fibo618 cluster with price range of 605-635.
Yesterday (22 Nov) the price finally crossed and cleared yearly pivot 635 which was also the 4h pivot. AYS is also seen as rebounding from EMA100.
Proposed EP will be weekly pivot at 655 which is also fibo50.
Proposed TP will be 640 which is the daily pivot and fibo236.
Proposed CL will be 595 which is one notch below the latest swing low.
Steel sector cycle + Uptrend + 50% VCPStrenght
1) Approach breakout
2) Stand above Uptrend line
2) Steel counter Super_Cycle (1-2 years profit trend), 3Q and 4Q FY20 show a HUGE profit.
3) Price stand up MA 10
Weakness
1) Immature VCP pattern, Contraction more than 20% during upward. It is defined as Normal contraction when rising sharply.
2) Below MA 20 and MA 30
Strategy
Cut loss on 0.39, potential loss = 7%