LIONIND buy signal based on MRV1 setup on 2 Jan 24 at RM0.330- This is actually a repeated signal, as it was previously triggered on 19 Dec 2023 at a similar price of RM0.335.
- Although the support area could be higher, I would set the stop loss to RM0.300 to avoid having a stop that’s too tight.
- The target price is RM0.405. To maintain a risk/reward ratio of 1:2, you may choose to adjust this to 1:1.5 or 1:1 based on your preference.
- The time horizon is 2-3 months, as the signal is derived from the daily chart.
- There’s no 1-2-3 breakout movement pattern. I’m just expecting that a new higher low (HL) will be created once the recent high (H) of RM0.34 breaks higher.
- The immediate resistance is at RM0.355 and the next resistance is at RM0.400.
- The support zone is at RM0.305.
**Only for discussion purposes. Not a buy / sell call**
