Emerged of Buying Interest!The candlestick indicates a significant price movement where the price closed above the MA line backed by high volumes due to fresh buying interest on the stock.
The MACD indicates a divergence signal, hence, confirming the price movement to the next price resistance.
The RSI is in positive momentum due to emerged of buying interest on the stock.
Let's save XINHWA in the WL and watch out for significant price movement backed with volume toward the next price resistance.
R 0.275, 0.300
S 0.240
XINHWA trade ideas
XINHWA - Volume Profile AnalysisXINHWA rebounded at main volume profile point of control @ 0.410 and break mini volume profile point of control @ 0.450 with extremely high volume
Be cautious @ 0.485 (price might be rejected at low volume node)
Potential buy on dip @ 0.450 (price retest mini volume profile point of control)
Potential target price @ 0.535 (fib extension 1.618 & previous resistance)
Disclaimer:
This is intended to be used and must be used for technical analysis education purposes only. Trade at your own risk.
Bullish Stock-XINHWA BHDStrong buying momentum monitored in this counter today.
Price able to sustain at RM0.46 and 26,000 lot of share traded at this price.
Price broke out medium-term resistance at RM0.45 which failed several time for last year.
Price may fluctuate for few days before strong rally.
Monitor for proper price pattern set up and entry point.