Get ready for Khee San (6203.kl)!!
- Khee San has been on a Downtrend for sometime before starting to move up early of this month.
- Price went out of the Downtrend and starting to move above previous Resistance.
- At the time of writing, we can see that after the last up move, the price spread is now narrow with volume decreasing.
- Based on experience, the price is ready to move up.
- Do bear in mind that trading is 50-50. So, always have your Trading Plan in place.
- Let's see how the price fares in the next few bars.
- Price went out of the Downtrend and starting to move above previous Resistance.
- At the time of writing, we can see that after the last up move, the price spread is now narrow with volume decreasing.
- Based on experience, the price is ready to move up.
- Do bear in mind that trading is 50-50. So, always have your Trading Plan in place.
- Let's see how the price fares in the next few bars.
Note
A classic case of a failed up move.- There was no interest from the market to push the price higher nor to support the price.
- We can see this based on the price now forming a downtrend with current price close below 40MA.
- If you have entered a trade with this stock, you already would have exited using your Trading Plan which we have mentioned earlier.
- Remember that every trade is 50-50. Even though the chart pattern looks promising, we could not predict the correct price movement.
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