PMBTECH - BOTTOM HAVE REACHED and POSSIBLE TREND CHANGING ?PMBTECH - Current Price : RM1.93
PMBTECH may had reached bottom as we can see in chart there is BULLISH DIVERGENCE in stochastic oscillator. Furthermore, the low is getting higher than previous low indicates some bullish scenario.
In addition, based on ICHIMOKU CHARTS, CHIKOU SPAN manage to climb up above LEADING SPAN 1 (but still below LEADING SPAN 2 - means still inside CLOUD). And today share price is testing to move upward into CLOUD.
Take note also that share price is trading above 50-day EMA. With all the information we identify in the charts, we believe that the share price may move upside in the upcoming session.
1st target will be the FALLING RESISTANCE LINE (blue colour line) , 2nd target will be 200-day EMA. Support is RM1.75 (the low of LONG OPENING BOZU WHITE CANDLESTICK)
Notes : Please study the FUNDAMENTAL of company and also other related news/catalyst. Trade at your own risk.
PMBTECH trade ideas
PMBTECH: potential new ATHPreviously price failed to break ATH 4.39 and has pullback into 261 fibo zone H4.
Price showed strong buy signal after breaking DTL and LH 4.04, forming CB1 buy setup.
Then, price has pullback into Demand zone 3.8-3.83 found in H1 and rebound nicely.
TP1: 4.39-4.49 confluence previous ATH.
If buyer momentum is strong enough, there is a high potential for new ATH at TP2 (4.83-4.95)
Bullish engulfing in Weekly TF provides strong confidence. 💪
Lets monitor closely!
*Personal opinion, trade at your own risk*
Belief into PMBTECH , the sister of PMETALLooks like there are plenty of buyers into the market recently and it doesnt look like its stopping anytime soon. Moving Average still stands above 200 with more upside to go.
With the coming stock split, I am pretty sure if history were to repeat similarly to PMETAL many years back. PMBTECH is a hold for a long term, many years to come as they have a solid management team.
P.S. I am personally invested in this stock for the long run
PMBTECH strong buyingPMBTECH very strong buying, getting ready to break out the resistant.
Price action and volume , showing buyers' power increase.
And it bounce up from bottom of uptrend tunnel.
Risk reward ratio = 3.2
TP = +15% or more
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Disclaimer
This information only serves as study references, does not constitute a buy or sell call.