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SENHENG NEW RETAIL BERHADSENHENG NEW RETAIL BERHADSENHENG NEW RETAIL BERHAD

SENHENG NEW RETAIL BERHAD

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SENHENG trade ideas

SENHENG buy signal based on MRV1 setup on 5 Jan 24 at RM0.340 Buy signal for SENHENG observed on 5th Jan '24 at RM0.340 based on MRV1 setup. Support area could be established at equilibrium support area of RM0.325. Suggested stop loss set lower at RM0.305 to maintain minimum risk of 10%. Stop loss aligns with next support area based on equilibrium. Target price set at RM0.410 with a 1:2 risk/reward ratio. Option to align with equilibrium resistance price area at RM0.415 or adjust risk/reward ratio to 1:1.5 or 1:1. Expected holding period is about 2-3 months as signal comes from daily chart. Three resistance areas spotted based on equilibrium at RM0.345, RM0.370, and RM0.390. SENHENG has been at lowest price range since September last year. Return to this price area could be interpreted as establishing a base at this price level. Might not appeal to those looking for quick flip but suitable for those without time to frequently check chart. This information is for discussion purposes only and is not a buy/sell call.
MYX:SENHENGLong
by syafizi