H1/H2/H4/H8 is forming a rising wedges, This rising wedges expected to peak at 43-44.5 Target price area is approximately the width of the wedges body (around 37.5). The shot area is at the resistance level between 44.5 - 43. Pattern expected to complete on 19/20 November 2021 roughly. The daily volume still on low which shows divergence between volume and...
Forming a bearish flag pattern on H1/H2 & H4, pending completion wave 5 (which will be in the range of 47- 48.5). potential short area. Daily chart and H8 forming a rising wedges. Expecting big move down to reach 38.9 - 42. (this is based on the fibonacci level 161, and considering the flag pole retraction to reach the flag)
diamond and rising wedges pattern formed in H1 & H2, while H4 is pending wave 5 to complete the diamond formation. expect big fall if 5 waves completed in the big diamond (H4). Price to top at 52.5 - 52.7 (short area) target price at, 47.2 - 49.2
TP: RM 7.20 Comments: Expected to peak at RM7 by 1st week of August. statement rationale: 1. Pharmaniaga has been on a downtrend trajectory since May 2015 and has formed a reversal pattern, (cup & handle in daily and weekly chart) 2. Strong product demand, expecting vaccination peak Q3 & Q4/2021. with the arrival of Sinovac Vaccine in July 2021, Pharma...
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