Looking at the chart for Eversendai Corporation Berhad, here's my analysis:
Current Price Action:
- Trading at RM0.655, up 8.26%
- Currently showing strong momentum with recent breakout
- Price above all major moving averages
Technical Analysis:
1. Moving Averages:
- Three moving averages showing bullish alignment
- Price recently crossed above all MAs
- MAs beginning to slope upward, indicating trend change
2. Volume Analysis:
- Recent increase in volume supporting the price rise
- Green volume bars indicating buying pressure
- Money flow indicator showing positive momentum
Key Price Levels:
- Support around RM0.50 (previous resistance turned support)
- Immediate support at moving averages around RM0.55
- Resistance level around RM0.70 (previous high)
Notable Events:
- December 2023: MYR132.709M (+638.74%)
- September 2024: MYR297.855M (+25.32%)
- Strong recovery from March-April 2024 lows
Trading Considerations:
- Breakout above resistance with volume confirmation
- Stop loss could be placed below MA support at RM0.55
- Momentum indicators suggesting continued upward movement
Risk Factors:
- Stock is relatively volatile based on historical price action
- Need to watch volume for continuation of breakout
- Previous resistance levels may act as temporary hurdles
Current Price Action:
- Trading at RM0.655, up 8.26%
- Currently showing strong momentum with recent breakout
- Price above all major moving averages
Technical Analysis:
1. Moving Averages:
- Three moving averages showing bullish alignment
- Price recently crossed above all MAs
- MAs beginning to slope upward, indicating trend change
2. Volume Analysis:
- Recent increase in volume supporting the price rise
- Green volume bars indicating buying pressure
- Money flow indicator showing positive momentum
Key Price Levels:
- Support around RM0.50 (previous resistance turned support)
- Immediate support at moving averages around RM0.55
- Resistance level around RM0.70 (previous high)
Notable Events:
- December 2023: MYR132.709M (+638.74%)
- September 2024: MYR297.855M (+25.32%)
- Strong recovery from March-April 2024 lows
Trading Considerations:
- Breakout above resistance with volume confirmation
- Stop loss could be placed below MA support at RM0.55
- Momentum indicators suggesting continued upward movement
Risk Factors:
- Stock is relatively volatile based on historical price action
- Need to watch volume for continuation of breakout
- Previous resistance levels may act as temporary hurdles
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.