GREATEC - FROM BEARISH TO BULLISH ?GREATEC - CURRENT PRICE : RM2.37
After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging.
Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern.
Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session.
Target Price : RM2.52 and RM2.70
Support : RM2.26 (half candle of today session)
Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best.
TAYOR - TRADE AT YOUR OWN RISK.
GREATEC trade ideas
Will GREATEC experience a resurgence to GREATness?Greatec's breakthrough of the previous high, coupled with its movement above both the EMA50 and EMA150, signals a bullish trend for the long term. The upward direction of both EMAs further supports this outlook. Moreover, the current signal suggests a substantial surge in buying interest volume for this stock.
GREATEC entering STAGE 2In stock market, is very important to know what the stages the stock currently in. Different stage will apply different strategy. We always look for STAGE 2 stocks as they are lesser risk and lesser waiting time.
GREATEC experience stage 4 for almost 1 year due to bad sediment in technology sector in 2022.
Technology sector is recovering end 2022 and GREATEC is one of the earliest that enter Stage 2 among all the technology counters.
Current setup looks good and you can consider to hedge your portfolio with Technology counter.
Disclaimer:
Information presented here is not intended to be used as the sole basis of any investment decisions nor should it be construed as advice designed to meet the investment need of any investor. Trade at your own risk.
GREATEC - Good to monitorAs we can see greatec is out of the triangle and going for a small pullback before going forward. to be sure , enter only when the price break the previous high at 6.3.
you aslo can wait at RSI crossing up 20 , not crossing down!!
Note : my view on this is not financial advice for anyone. thanks
GREATEC signs of weaknessMYX:GREATEC
The previous week rally was unsustainable due to very weak volumes, three doji signs at the top was also a major red alert.
Today, the stock dipped due to news of one of the more recent high profile client NASDAQ:RIDE , says they were unable to come up with the cash required to start commercial production.
The outlook for the short to middle term would be sideways to bearish.