<TradeVSA> CCK - First Pullback from Accumulation1. Shakeout completed
- removal of weakhand holders
2. Long period accumulation
- Shakeout in accumulation
- False breakout in accumulation
- Lots of upbar with increasing volume
3. Change in trend with high volume
- Pullback
- Testing major resistance
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
CCK trade ideas
CCK..Kaunter Telur Yang Menanti Untuk TerbangKaunter ini di dalam sektor consumer product and services dengan sub sektor food and beverages.
Syarikat terlibat dalam aktiviti perniagaan poultry dan retailing termasuk ayam segar, produk berasaskan daging ayam, dan juga telur.
Dari segi FA nampak okey jugak, cuma divident yield je nampak sikit (2.3%). Boleh consider untuk short dan medium term trade.
P/E Ratio: 10.13
ROE (%): 12.11
Dari segi TA, kaunter sedang uptrend dengan price berada di atas MA20 (short term), MA50 (medium term) dan MA200 (long term).
Breakout MA200 telah berlaku pada 4 Mei 2020 disusuli dengan pullback. Possible entry dengan strategi buy on dip.
Support: 0.530
Resistance 1: 0.570
Resistance 2: 0.595
Bullrun for CCKHello Malaysian traders...the demands with CCK product is amazing. I believe that supply world chain is not going well right now, due to closure nation gates because of the plague. For current trade, is resting mode after U shape, I missed the moment. Perhaps next time this stock price will be my fav. Projection profit target is to reach at Tp.1, foresee need to break small resistance before can reach target at Tp.1.
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Stay positive, stay at home, and be safe.
CCK Consolidated - hidden gemI missed the recent rally of MYX:CCK and will not chase its upside. Prefer to wait and see to bargain-hunt this stock in resilient food supply business. Lower cost of imported raw materials more than cover the depreciation of ringgit and Covid situation does not affect food supply business as much as other sectors.
Will revisit CCK when Bursa corrects to see how its price reacts to general market sentiment before opening a position.
