Mclean Technologies Berhad
Overall, the stock appears to be in a downtrend but showing signs of potential stabilization or reversal. Traders should watch for a confirmed break above resistance or a breakdown below support for clearer directional signals.
- Trend: The overall trend appears bearish in the medium term. The price has been making lower highs and lower lows since mid-July.
- Support and Resistance:
###Key support level around 0.235-0.240 MYR
###Resistance levels at around 0.360 MYR and 0.420 MYR - Moving Averages: The stock is trading below both the short-term (likely 20-day) and long-term (likely 50-day) moving averages, indicating bearish sentiment.
- Volume: There are sporadic volume spikes, particularly noticeable in late July and early August, which could indicate increased interest or significant events.
- Price Action: The stock has shown high volatility, with sharp drops followed by quick rebounds. Most recently, there was a significant drop to the support level around 0.235 MYR, followed by a sharp rebound.
- Bollinger Bands: The price has been touching the lower Bollinger Band frequently, suggesting oversold conditions at times.
- Recent Movement: There's been a recent upward movement from the support level, but it's encountering resistance around the 0.340-0.360 MYR range.
- Potential Patterns: There might be a potential double bottom forming at the 0.235-0.240 MYR level, which could indicate a possible trend reversal if confirmed.
Overall, the stock appears to be in a downtrend but showing signs of potential stabilization or reversal. Traders should watch for a confirmed break above resistance or a breakdown below support for clearer directional signals.
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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.
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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.