Wellcal Holdings Bhd to Challenge ALL TIME HIGH?A bullish continuation pattern can be seen as the price continuously making series of Higher Highs and Higher Lows.
For the past 2-3 months, price formed a pullback after the Break of Structure reaching RM 1.87 as the new 52 Weeks High.
There are three key things that are worth to be observed:
1. Price rebounded at MA 200 confluence with the Order Block zone.
2. In TF15m, price made Change of Character (ChoCh) at RM 1.59.
3. A bullish divergent pattern can be seen as price is making Higher Low and the Awesome Oscillator Lower Low suggesting that price will shift upward.
If price can sustain and close above RM 1.70 will strongly validate the ChoCh in the TF15m with a minimum target at the previous high RM 1.87 and a breakout above it, with the target at the All Time High level.
A break below RM 1.53 is a sign that price will further resume the bullish pullback whereas if broke below RM 1.43 indicates the ChoCh from bullish to bearish.
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