WILL GCB MARKING UP?This is An Atypical Type Of Re-Accumulation Trading Range
- ReAccmulation Schematic #2 (Rising Bottom)
Blue box : A change of character (Choch) of the stock from Non trending -> Trending environment
I bought this stock on 6 & 8 of Jan 2025
however the position ended up cut loss
Poor timing
Since then, the price action from 21-28/1/25 brought my attention **Red Line
(Spring Board Schematic #2)
1st position intiated : 31/1/25 @ 4.26
2nd position added : 5/2/25 @ 4.33
Purewyckoff
Sl as attached
GCB trade ideas
GCB wave 3, should enter before thisLooking at the chart for Guan Chong Berhad, here's my analysis:
Current Price Action:
- Trading at RM4.11, up 5.12%
- Currently in an uptrend following bottoming pattern
- Price above all major moving averages
Elliott Wave Analysis:
- Completed waves i through iv
- Currently in wave v of the upward move
- Potential target around RM4.32 (wave v projection)
Key Technical Levels:
1. Support:
- Strong support at RM3.68 (0.382 Fibonacci)
- Secondary support at RM3.48 (0.5 Fibonacci)
- Critical support at RM3.29 (0.618 Fibonacci)
2. Resistance:
- Immediate resistance at RM4.26 (recent high)
- Major resistance at RM4.32 (wave v target)
- Previous high around RM4.40
Financial Events:
- September 2024: MYR-436.425M (-6.41%)
- June 2024: MYR-410.132M (+40.40%)
- March 2024: MYR-688.184M (-129189.60%)
Trading Considerations:
- Strong upward momentum
- Volume confirming price action
- Risk/reward favorable at current levels
- Stop loss could be placed below RM3.68
Simple13 Trading IdeaCurrent Price: RM 3.01
The latest earnings report for this stock is solid, but the absence of a gap-up at market opening suggests the result was already priced in or met investor expectations.
Fundamental Strength:
PE Ratio: Less than 10 (indicating undervaluation).
ROE: More than 10 (reflecting strong efficiency in generating returns).
These financial ratios highlight the company's solid fundamentals, making it a potential candidate for accumulation.
Trading Plan:
Take Profit Area: RM 3.01 to RM 3.60.
Entry Area: RM 3.01 to RM 2.90 (consider entering on pullbacks).
Cut Loss: RM 2.80.
If the price drops below RM 2.80, the pullback could be deeper than expected, likely falling below the 20 EMA, signaling a higher risk.
Summary:
The strong fundamentals make this stock attractive, while the lack of immediate price action post-earnings provides an opportunity for buyers to accumulate near support levels. Keep an eye on technical signals and manage risk appropriately.
Disclaimer: This is not financial advice and is for informational purposes only. Always do your own research before making any trading decisions.
MYX:GCB
Guan Chong Berhad. A hidden gemFundamentally strong company. The next financial result is essential as we will be able to assess whether the company is able to increase their dwindling profit margin. I anticipate revenue will be above RM1bil, but as for profits...time will show. A fundamentally strong company, I believe GCB is a must-have in every investor's portfolio.
LONG
RM4-5
TAYOR
GCB (5102) BURSA MALAYSIA 3/3/21The study is based upon Volume Price Spread Analysis and M omentum
Major Trend-line breached.
Close: 3.02
EP: 3.08-2.96
Sl: 2.65
TP:3.29/Open
Disclaimer: This study does not constitutes Buy/Sell per say. Please consult your financial advisor before making any trading/investing decision.
<TradeVSA> Pullback Completd in GCB, GCB-CH & GCB-CMStrength in the chart:
1. Mark-up stage
2. Pullback
3. To test resistance soon
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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
Taking 1st Profit for Guan Chong & SupercomnetGuan Chong & Supercomnet still showing strength in the chart after 18 Line Change with high volume.
Members are advise to use Income Cash Method to take 1st profit and let the rest run until confirmation of Sign of Weakness.
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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