Looking at the chart for Eversendai Corporation Berhad, here's my analysis:
Current Price Action:
- Trading at RM0.685, up 3.79%
- Breaking out of a consolidation pattern
- Price above all major moving averages
Elliott Wave Analysis:
- Completed waves (I) through (IV)
- Currently entering wave (V)
- Price target for wave (V) at RM0.925 (0.786 Fibonacci level)
Key Technical Levels:
1. Support:
- Major support at RM0.500
- Stop loss level identified at RM0.215 (31.39% below current price)
- Moving averages providing dynamic support around RM0.585
2. Resistance:
- Immediate target at RM0.820 (0.618 Fibonacci)
- Ultimate target at RM1.05 (1.0 Fibonacci)
- Secondary resistance at RM0.750 (0.5 Fibonacci)
Trade Setup:
- Risk/Reward ratio: 1.7
- Target: RM0.865 (53.28% upside)
- Stop loss: RM0.215
- Current position showing good profit potential
Volume Analysis:
- Recent increase in volume supporting breakout
- Money flow indicator turning positive
- Green volume bars suggesting accumulation
Notable Events:
- September 2024: MYR297.855M (+25.32%)
- June 2024: MYR237.67M (-529.76%)
Current Price Action:
- Trading at RM0.685, up 3.79%
- Breaking out of a consolidation pattern
- Price above all major moving averages
Elliott Wave Analysis:
- Completed waves (I) through (IV)
- Currently entering wave (V)
- Price target for wave (V) at RM0.925 (0.786 Fibonacci level)
Key Technical Levels:
1. Support:
- Major support at RM0.500
- Stop loss level identified at RM0.215 (31.39% below current price)
- Moving averages providing dynamic support around RM0.585
2. Resistance:
- Immediate target at RM0.820 (0.618 Fibonacci)
- Ultimate target at RM1.05 (1.0 Fibonacci)
- Secondary resistance at RM0.750 (0.5 Fibonacci)
Trade Setup:
- Risk/Reward ratio: 1.7
- Target: RM0.865 (53.28% upside)
- Stop loss: RM0.215
- Current position showing good profit potential
Volume Analysis:
- Recent increase in volume supporting breakout
- Money flow indicator turning positive
- Green volume bars suggesting accumulation
Notable Events:
- September 2024: MYR297.855M (+25.32%)
- June 2024: MYR237.67M (-529.76%)
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.