MICROLN trade ideas
MICROLN TECHNICAL ANALYSISTechnical analysis for MICROLN Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- Overall trend still maintaining the long term UTL with highest VAP 0.440 as strong support.
- Current price candle trend had retracement and maintain at Fibo 0.36 area indicate the prior uptrend will continue. Current price candle trend moves in shorter range with below than average volume with highest VAP 0.600-0.625 indicate accumulation phase occur .
- Latest OCT 21 monthly candle show a short body with upper and lower wick accompany by low volume signal indecision-reversal may occur. It may indicate Pivot low.
2) In Weekly TF
- Overall trend still maintaining the immediate support line and Descending Triangle pattern with highest VAP 0.440 as strong support.
- Current price candle trend moves in shorter range with low volume with highest VAP 0.610-0.655 indicate accumulation phase occur. Pivot high and Pivot low can be seen clearly in this TF.
- Latest 1 Nov 21 Weekly candle show a very short body with upper and lower wick accompany by very low volume signal market in congestion. This may indicate Pivot low.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and Descending Triangle pattern with highest VAP 0.655 as strong resistance.
- Current price candle trend staying in Fibo 0.36 area indicate the prior uptrend will continue. Current price candle in long congestion period with price candle move in short range with low volume indicate accumulation phase occur with highest VAP 0.645-0.655 as immediate resistance .
- Latest 5 Nov 21 daily candle give a Hammer candle with low volume indicate market build up the strength and momentum in slow and steady manner.
MICROLN - Pre Consolidation BreakoutNO INVESTMENT ADVICE IS PROVIDED
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Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any recommendations and not to cause inducement to the public to take action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives. The author will never provide any investment or trading advice as the activity of giving investment advice is likely to be considered as a regulated activity under the Capital Markets and Services Act 2007 ( CMSA ). All posts made in Tradingview do not include any communications involving providing recommendations or opinions or includes any material, content or any statement which are likely to induce a person to take any action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives that is likely to be considered as “advising others concerning securities or derivatives”. The author will not recklessly make any statement, promise or forecast that is misleading, false or deceptive to induce or attempt to induce another person to deal in securities or derivatives. None of information posted in post can be used as investment decisions. Do not trade solely on the information posted. Trade at your own risk and judgement. A trader could potentially lose all money. Only risk capital that can be lost without jeopardizing ones financial security of lifestyle. Please seek licensed professional guidance if you plan to invest your capital seriously.
Rising Wedge PatterThose who consider Mircrolink need to becareful...
Earlier Triangle Breakout not enough momentum & strenght to push up the price.
It look like creating a Rising Wedge Pattern (bearish) ....
Hope the result and also the new will move up and break the wedge pattern tomorrow...
Otherwise, Microlink may U-Turn.... Dangerous Dangerous!!!
