VS trade ideas
VS Industry 21/6/2020 by Newbie Trading Channelvs 21/6/2020 chart tends to replicate their past movement all the time , are we seeing a similar channel here? Will it move to 1.250 area , where the major downtrend resistant line resisting here? Concern is the upcoming quarter report here, investors are still on the defensive side as the upcoming quarter report is yet to be announced.
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Using PENNANT / FLAG Pattern to Predict Price MovementVS opened at a price of RM0.935, higher than closing price of previous trading day. The movement shows a bit of pullback to RM0.925. The price steadily moving up to highest price of RM1.08 before a slight pullback to closing price of RM1.07.
I am expecting profit taking from traders in the coming days and the price will continue to go fall until at least RM1.00. For the this purpose of analysis I would set RM1.00 as the strong support line for our chart to follow PENNANT / FLAG pattern .
If the traders maintains the price above RM1.00 with strong volume of higher than average daily traded volume for the past 1-2 weeks, we should expect the price to move up back to RM1.08. Bear in mind, the VMA200 (RM1.11) is the resistance needed to be broken. Once broken and is supported with increased buying pressure, our target should be RM1.15 in the coming days if not weeks.
Current Price: RM1.07
Support Price: RM1.00
Target Price: 1-RM1.11 2-RM1.15
Remember to trade with care. Please follow your own trading plan and risk tolerance level.
VS Industry BhdFor traders who are stuck in this stock, you may just want to continue to read this. Since you had been holding on to this trade, I would say hold on to a few days longer.
That's what I'll do if I were you.
A break and close below 0.895 might encourage me to prepare to cut loss.
Another level I will be looking closely is 0.915 to spot if it breaks and closes above the high if it does I will observe how the market react at 0.955
VS - Potential to surge if resistance is brokenVS - 13/05/2020
Previous gap has been fully filled up, but the price is moving sideways and consolidating. MACD and RSI are still bullish, we may see an upside potential if 0.945 resistance is broken.
Resistance: 0.945
Support: 0.840
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{SWC}—— Potential Breakout Resistance in VS? Thank you for your continued support :)
Strategy: Bullish Pattern Formation
Bias: Bullish Ascending triangle is formed, in addtion, VS is potentially making a further Bollinger Band breakout (BB Breakout) with volume. The share price challenged RM1.40 resistance zone many times since 23 Oct 2019. The previous time it challenged the resistance was on 12 Dec 2019. In this case, it's clearly shown that RM1.40 zone is a major resistance zone which needs to be further broken in order for VS to scale higher!
If the buying interest kicks in with high momentum, potentially VS will make a successful breakout, with next resistance zone at RM1.50 and RM1.59 zone. Around 14% upside provided the breakout is valid. Support zone is priced at RM1.35.
Gentle Reminder: Plan your Trade, Trade your plan.
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<TradeVSA> VS & VS-C23 is Pulling Back Signal in the chart:
1. Failed Spring at Support
2. Pulling back lower to test next support
3. Low volume on downbar
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
<TradeVSA> Pullback in VS...Potential to trade in VS-C23 (Macq)?Strength in the chart:
1. Mark-up stage with pullback
2. Low volume downbar
3. Testing at support now
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock