Synergy House - Cup and Handle PatternSynergy House, a furniture player headquartered in Setia Alam, appears to have formed a Cup and Handle pattern on its technical chart.
The company stands out despite the overall underperformance of the industrial products sector. Furniture exporters, including Synergy House, are expected to benefit from a stronger USD. Besides, the company has implemented AI solutions to enhance cost savings.
However, a major risk for the company stems from the default risk posed by one of its clients.
SYNERGY trade ideas
Synergy, PB or CN?Price movements is more on a pattern, and particular pattern.
It won't 💯 same, but up to certain Percentage of similarity.
If yes, SYNERGY might go for correction soon.
Always protect the downside.
>> Fast stochastic at top
>> RSI at top too.
What does it mean? Prepare to protect the downside, as always.
When the market moves where, and how, and if - these are all unknown. The only thing which we can control is our risk. Focus on risk management!
Keep the long term vision.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
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Why I reluctantly to play downtrend stocks?I often bear this in mind, "Trend is our friend". We cannot against them, just can follow / join them.
For SYNERGY instead, today it's green candlestick, again. Shall I trade? Or just wait again? Some trade already make some within the "green", what are this fellow waiting?
I often emphasize, below line, skip. Yet cross line, skip. Indicators no good, skip.
Indeed, it may miss the earlier part. But at least I have the confirmation. What kind of conformation? Above the line, it's uptrend"ing", indicators show good signal (Ob especially).
There is not perfect strategy, but at least it's work for me.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
