LIIHEN, Uptrend based on AlgoSignal StrategyThe current point exhibits promising upward signals according to my algorithmic system, meeting various criteria. These include rising trading volume, an upward trend indicated by prices above EMA20 and EMA50, and the closing price surpassing VWAP. As a result, the present conditions suggest a potential upward trend.
LIIHEN trade ideas
Breakout Filter works at Any Time FramesBreakout Filter works in multiple time frame. For example, LIIHEN DTF filter 1 appeared. When we open at lower time frame, filter 3 appeared at M15, M30, H1, H2 and H4. When Filter3 appeared at multiple TF, it indicates a strong breakout signal.
Filter 3 closed at 0.86 (the strongest resistance, referring to Gann Chart). If the price breaks 0.86, it will be more likely to create new higher high. TAYOR.
LIIHEN: Wyckoff phases in playThe Fed will increase rates indefinitely this year, which in turn will make USD stronger.
This furniture company has majority of its earnings in USD.
Fundamental: Good.
Technical:
Price has moved out of the recent downtrend line.
I've mapped out my interpretation of the Wyckoff phases in play. Currently looks to be in accumulation again.
The most recent price action remains my best guess but can only be accurately predicted in hindsight.
It can be another upthrust though.
For now, one can consider low risk entry close to the MA200.
Trend Rider 201. Weekly in uptrend EMA 10>EMA30>EMA 200. Starting to make a reversal at 0.618 level.
2. H4 seems like the corrective wave has finished and start to make Wave 1 then Wave 2. Down trendline has also broken. Reversal at 0.382 level with hammer formed then broke. Price action above EMA 200.
3. Bursa Marketplace rating 10 (Fund 10, Value 10, PE 9) CTP RM4.96, Isaham 11.7 WAFV RM5.91, i3 ATP RM4.23.
Liihen - baru break out downtrend 24/12/2020Liihen broke short term down trend - parabolic SAR is below close price of 24/12
This indicates the price is moving on an uptrend. The ema 5 line is also on the way of crossing up the ema 20 line. Furthermore, the macd line is crossing up the signal line.
There has been significant price action 3 days building up to the breakout on 24/12
All this, are favorable conditions which would trigger multiple screeners and attract traders! At the stage, it is still early breakout
My EP - 4.0 to 4.1
My tp1 - 4.2 ( 5-2.5%)
My tp2 medium - 4.6
(7089) LIIHEN (Furniture stock)(7089) LIIHEN
- Uptrend moving stocks.
- Recent price action goes for higher high higher low movement.
- Keep the Benchmark Neck in check at RM3.86.
- A breakdown below this benchmark neck = execute trailing profit take.
- While as the price action goes higher high, keep your Desired Target Profit Zone in check.
Lii Hen Furniture Stock Breakout from a 1.5 years downtrend lineLii Hen is one of the famous furniture counter in Malaysia Stock Market who has just breakout from a 1.5 years downtrend line since 2017 which has just posted a good result.
Besides the breakout from the technical analysis we could see that from the fundamental point of view the company performance is pretty convincing as well.
Market Capital : 534m
ROE : 19.70
P/E : 7.99
PEG : 0.53
DY : 4.88
Financial Leverage : 1.4
Interest Coverage : 58.5
Target Price from Research House : 4.22
Despite with the uncertainties in the stock market due to the escalation of trade wars we believe that Lii Hen might be one of the counter which could perform in 2019.
As a lot of the furniture stores is trying to get their supplies from Malaysia recently.
Solely for education purpose without any buy or sell recommendation.
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