SCNWOLF VOLATILIY REVERSAL IN EW ABC CORRECTIVE ZONECan try SCNWOLF which has been spotted as having reversed its volatility in daily time-frame and is at Elliott's Waves' ABC corrective zone.
SCNWOLF trade ideas
SCANWOLF CORPORATION BHD (29/03/2022)SCANWOLF CORPORATION BHD
It is expecting a breakout at any time in this week. After A long Sideways Movement this counter is expecting a breakout because it is gaining volume with a triple bottom formation.
Support : 0.595,0.575
Proper Risk Profiling is recommended.
SCNWOLF VCP SETUPSCNWOLF developing VCP with below contraction.
C1: -36%
C2: -9%
C3: -5%
During C2 and C3 contraction, volume observed contract as well. The price and volume interaction is good.
Let's see if will pull back another round and form a C4 or it will direct surge up. Prefer to pull back another round for more solid base take off.
Disclaimer:
Not a buy call recommendation. Just technical analysis sharing based on my personal experience in chart pattern study. Trade at your own risk.
A Reversal Signal!Using Fibonacci retracement chart SCNWOLF indicate a reversal signal.
MACD chart indicates an early stage of a divergence signal and OBV charts are still in a downtrend pattern.
Let put SCNWOLF in WL and watch out for significant price movement with volume or when the candlestick body is closed above MA20.
R 0.710
S 0.615
SCANWOLFjust simple analysis
price move in channel
as long as it maintain above support or
remains in channel, considered valid to
continue uptrend
but, personally i'm not trade this counter
because the price below than RM1
for me, very risky and exposed to manipulation game
but to who interested, PLAN UR TRADE
SCNWOLF will go back to climbing or stop to rest for a while ???MYX:SCNWOLF Yesterday, SCNWOLF managed to close its bottom gap and when referring to the EPRAF indicator, a beautiful line arrangement was seen. The arrangement of the lines according to the “Harga Paling Murah Orang Beli” formula (green, purple, red, orange and blue) is a sign that SCNWOLF will continue its climb.
Will it form double bottom?** No buy/sell call **
** Solely for education purpose **
1. bearish harami form
2. the price may moving downward in near term
3. if break support line @ 0.27 then basically no need to look at it in near term
4. if successfully tested on support line then it form double bottom
