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KOBAY TECHNOLOGY BHD

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KOBAY trade ideas

A Buying range in Kobay Technology Kobay Technology cimbed and touched the RM 6.04 resistance level. With its RSI Indicator pointing upward, coupled with a higher trading volume. We see a possibility for a technical breakout. If this happens, we expect it to move towards the short term target price of RM 6.25 abd RM 6.38. The downside support is projected at RM 5.77. Traders are advised to exit on a breach to avoid further losses. Trading Call: Buy on breakout RM 6.04 Target: RM 6.25, RM 6.38 (time frane: 2-4 Weeks) Cut loss: RM 5.77
MYX:KOBAYLong
by filatovarthur
Uptrend in making?1. Today rebound from support 5.75 with nice bullish marubozu candle closing at 6.04. 2. Testing MA50 since last week and strong rebound on today. 3. MA 20, MA50, MA100, MA200 all in uptrend. Overall nice setup after consolidation in between August to November. Hopefully tomorrow MACD can make a nice GC above 0. Cautious. 1. Short term down trend not breaking yet. If tomorrow can breakout from down trendline and sustain will be very positive. 2. 5.75 will be support. Risk management always be your priority. Trade at your own risk. Information should not be considered as an offer or enticement to buy, sell or trade. You should seek appropriate advice from your broker, or licensed investment advisor, before taking any action. Past performance does not guarantee future results.
MYX:KOBAY
by Tsunami_Wave_rider
A shakeout or Spring signal in Kobay Technology (6971.KL) A shakeout or spring is a drop in the price which takes it below the lows of trading (stage 1 – accumulation). It’s usually the last attempt of the Smart Money to acquire shares at cheap prices before the mark-up move. Creating selling pressure forces weak-hand holders to think that the current trading range will end in the mark-down movement and exit or reverse their positions. The Smart Money waits for breakout to create enough liquidity and then rapidly covers all available supply resulting in price getting back into trading range. Currently Kobay is trading above the Spring bar (12 October 18, 12:30pm). This is a sign of Hidden Potential Buying from the Smart Money. 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.
MYX:KOBAYLong
by MartinTFWong