ACO buy signal based on MRV1 setup on 5 Jan 24 at RM0.235
This is actually a repeated signal which was observed on 19 De 23 at the same price based on MRV1 setup.
Support area could be established at equilibrium support area of RM0.210 which is also the suggested stop loss to maintain minimum risk of 10%.
Stop loss aligns with next support area based on equilibrium.
Target price set at RM0.280 with a 1:2 risk/reward ratio or at RM 0.280 to align with equilibrium resistance price area. However, you may also adjust risk/reward ratio to 1:1.5 or 1:1.
Expected holding period is about 2-3 months as signal comes from daily chart.
Nearest resistance to break at RM0.245
Exercise extra caution as this is not a counter with good volume.
This information is for discussion purposes only and is not a buy/sell call.
