RANHILL May 2024 : Sell on news , and the reaction at 10WEMA
was in a good uptrend , then a sudden sell on news.
news trigger :
" KUALA LUMPUR (May 28): YTL Power International Bhd’s (KL:YTLPOWR) 70% subsidiary SIPP Power Sdn Bhd is buying 405.18 million shares, or a 31.42% stake, in Ranhill Utilities Bhd (KL:RANHILL) for RM405.18 million or 99.5 sen per share "
- gap down on massive volume , unable to recover ( long upper wick , close below VP POC )
the reaction :
- sell-off halted by 10 weeks EMA
- 50 days moving average
- Value Area Low of P-Profile
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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.