JFTECH trade ideas
JFTECH long trading planDisclaimer : This analysis is not meant for buy call, but personal trading idea log for reference.
Analysis is based on trendline and channel. Confirmation on our long position are based on RSI, Stoch, MACD and MCDX (indicator by @kgiap123).
JFTECH is in uptrend and this is confirms by the channels, trendline drawn based on LL, LH, HL and HH indication on chart. Retracement on 9 July 2020 is noted based on the HH indicator thus a down trenline is drawn and monitor if there is any breakout in daily chart. Today 21 July a breakout happened at daily chart. The uptrend may continue tomorrow, and if it breaks the HH resistance line, it may go higher. Based on fibonacci indicator for a long position trade can reach highest TP at RM4.50.
Confirmation of long position are based on:
- MACD crossing up forming.
- RSI > Stochastic
- MCDX that indicate smart money still high more than 50%.
JFTECH - trend is your friendMYX:JFTECH might be very safe for mid term swinger.
The strong uptrend has began back in Nov 2019 before it was broken in Feb 2020 due to political situation (Sheraton Move), and MCO in March.
But right after the first day of MCO, it started climbing back until today!
However the uptrend was quite accelerated in the last few days starting 22 June when it first breaking all time high and keep going with new highs.
What is JFTECH?
"We engineer high performance test contacting solutions for the semiconductor industry to validate IC devices that go into smartphones, wearable electronics, automotive, solid state storage, military, internet of things, medical and electronic appliances."
So it is the manufacturer for of testing device to validate integrated circuit used by wide range of technology players as above.
Let's use NASDAQ as the benchmark, and see how much MYX:JFTECH relate to NASDAQ trend.
<TradeVSA> MI, Greatec.....JF Tech follow closely ?Strength in the chart:
1. Mark-up stage
2. Pullback
3. Green pentagon in hourly chart
Hit the "LIKE" button to support us :)
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
JFTECH breakoutGood looking breakout stocks put stop loss below the higher low and trail it to the moon.
<TradeVSA> Continuation of Mark-up Stage ? JFTechStrength in the chart:
1. Mark-up stage
2. Consolidation
3. Upbar high volume
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
<TradeVSA> Premium Alerts Buy Signal 4:30pm - 18 November 20191. Premium Alerts at 4:30pm
2. Mark-up (Pullback)
3. Green Pentagon
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
