Cabnet Holdings Berhad
Overall, while the medium-term trend is bearish, there are some short-term bullish signals that traders might consider. However, it's crucial to combine this technical analysis with fundamental analysis and risk management strategies before making any trading decisions.
- Trend: The overall trend appears bearish in the medium term, with the stock price declining from highs around 0.80 MYR to current levels around 0.55 MYR.
- Moving Averages: The price is currently below both the short-term (likely 20-day) and long-term (likely 50-day) moving averages, indicating bearish sentiment. However, the price has recently crossed above the short-term MA, which could signal a potential reversal.
- Support and Resistance: A key support level appears to be around 0.48 MYR, which the price recently bounced off. Resistance levels can be seen around 0.60 MYR and 0.72 MYR.
- Volume: Trading volume has been relatively low recently, with some spikes coinciding with price movements.
- Bollinger Bands: The price recently touched the lower Bollinger Band and has started moving back towards the middle band, suggesting a potential short-term bullish move.
- Recent Price Action: There's a small bullish candle forming, with a "buy" indicator visible, suggesting a possible short-term upward movement.
- Indicators: While not all indicators are visible, the price action suggests oversold conditions may have been reached, prompting a potential bounce.
- Chart Patterns: There's a possible double bottom formation around the 0.48 MYR level, which could indicate a trend reversal if confirmed.
Overall, while the medium-term trend is bearish, there are some short-term bullish signals that traders might consider. However, it's crucial to combine this technical analysis with fundamental analysis and risk management strategies before making any trading decisions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
➀➁➂➃➄
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.