Possible breakout of the triangle?
Updated
BUY
- under 6.00 with a stoploss when it breaks the lower trendline
- average up if it breaks 6.10 and 6.25 with increasing volume
SELL
- there are multiple resistance from the previous bull cycle since last year
- nail some profits if it can't break the resistance
RATIONALE
- the recent sell-downs were because of the possible hike rate and overvaluation of tech-related stocks
- possible entry was around 5.70 with a stoploss around 5.50
- came back down with a long red candle WITH shadow which might indicate interest in the stock still - need time to monitor the possible future trend
- if the trend is still intact, there might be a breakout of the triangle when QR is out soon
- FPE might bring the valuation down albeit the overpriced scenario across the tech/industrial board in KLSE
**the analysis is solely for my own references and learning
- under 6.00 with a stoploss when it breaks the lower trendline
- average up if it breaks 6.10 and 6.25 with increasing volume
SELL
- there are multiple resistance from the previous bull cycle since last year
- nail some profits if it can't break the resistance
RATIONALE
- the recent sell-downs were because of the possible hike rate and overvaluation of tech-related stocks
- possible entry was around 5.70 with a stoploss around 5.50
- came back down with a long red candle WITH shadow which might indicate interest in the stock still - need time to monitor the possible future trend
- if the trend is still intact, there might be a breakout of the triangle when QR is out soon
- FPE might bring the valuation down albeit the overpriced scenario across the tech/industrial board in KLSE
**the analysis is solely for my own references and learning
Note
avoid tech
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