Looking at the chart for MISC Berhad, here's my analysis:
Current Price Action:
- Trading at RM7.08, up 1.29%
- Currently testing key support level
- Price below major moving averages suggesting bearish pressure
Technical Analysis:
1. Support/Resistance:
- Critical support zone around RM7.40 (highlighted in pink)
- Major resistance at RM8.00-8.20 (recent peak)
- Previous support at RM7.60 now acting as resistance
2. Moving Averages:
- All moving averages trending downward
- Price trading below all major MAs
- Death cross formation (short-term MA below long-term MA)
Volume Analysis:
- September 2024: MYR1.024B (-8.29%)
- Recent volume spike on selloff
- Money flow indicator showing distribution phase
Key Events:
- June 2024: MYR1.254B (+564.28%)
- March 2024: MYR188.7M (-85.66%)
- Significant decline from recent highs around RM8.80
Trading Considerations:
- Currently in downtrend
- Key level to watch is RM7.40 support
- Break below support could target RM7.00
- Need to see price back above MAs for bullish reversal
Current Price Action:
- Trading at RM7.08, up 1.29%
- Currently testing key support level
- Price below major moving averages suggesting bearish pressure
Technical Analysis:
1. Support/Resistance:
- Critical support zone around RM7.40 (highlighted in pink)
- Major resistance at RM8.00-8.20 (recent peak)
- Previous support at RM7.60 now acting as resistance
2. Moving Averages:
- All moving averages trending downward
- Price trading below all major MAs
- Death cross formation (short-term MA below long-term MA)
Volume Analysis:
- September 2024: MYR1.024B (-8.29%)
- Recent volume spike on selloff
- Money flow indicator showing distribution phase
Key Events:
- June 2024: MYR1.254B (+564.28%)
- March 2024: MYR188.7M (-85.66%)
- Significant decline from recent highs around RM8.80
Trading Considerations:
- Currently in downtrend
- Key level to watch is RM7.40 support
- Break below support could target RM7.00
- Need to see price back above MAs for bullish reversal
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.
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.