Bullish Divergence Pattern @ MATRIX1. Bullish divergence pattern detected in RSI
2. OBV also showed bullish divergence pattern
3. Price had broke the pattern resistance with a bit high volume than normal.
4. Price had also retested the previous resistance that had been broke but with low volume.
5. Potential risk ratio is 3:1
6. Price may retested the EMA200 in the future.
Lets see
Bursamalaysia
Ascending Triangle Pattern @ SPFTECH1. Ascending triangle pattern can be seen
2. Looking at past history, price will bounce when hitting at the support of the pattern.
3. No abnormalities in terms of volume, RSI and OBV. Besides, volume becoming lower and lower for 4 days and that showed that the selling pressure is becoming less and less.
4. Risk reward ratio is 2:1
PVA, RSI and OBV on NWP1. Price making lower low
2. If see monthly chart, can see the price is nicely put in a pennant shape
2. Bullish divergence in RSI
3. Bullish divergence in OBV (people are buying)
4. Potential 3:1 reward
Usage of OBV and Divergence1. Example of powerful tools of PVA Analysis.
2. The analysis that can be done are :
a) Price making higher high but not followed by volume
b) An inverted hammer is formed with high volume (shown selling off by market maker)
c) A bearish divergence in RSI
d) A bearish divergence in OVB
3. All of this clearly shown that price is exhausted and a retracement is highly likely.
Usage of OBV, RSI and Volume1. Combination of PVA is very interesting and powerful tool that we can used to predict the price trajectory.
2. In the example above (LAYHONG, a poultry stocks in Malaysian Stocks Market).
3. This is my analysis on the stocks:
a) Price making lower low and retesting a major trendline.
b) Low volume while retesting the trendline
c) A bullish divergence is shown in RSI indicator
d) A bullish divergence is shown in OBV
e) Clearly this is an opportunity to go long as bullish divergence plus testing support zone with low volume.
AYS Venture 5021 Bursa Saham Malaysia stock analysis 17-Feb-2023Short term analysis: (what we see from the chart)
Price crossed-up MA50 (blue) & MA200 (white), possible to start bullish uptrend.
Higher High Higher Low of price pattern is formed!
Short term resistant @0.48
Smart Money Flow (MI02b) indicates Profit-chip (red bar) is increasing & Lost-chip (green bar) is dropped to minimal.
Trade Setup Trial:
Cost price 0.44
TP1 0.575
CL 0.41
Risk Reward Raio - 6.8% : 30.7% (1 : 4.5)
#bursasaham #malaysiastockmarket #ays #5021 #bursamalaysia #malaysia #bursa
#trendline #trendanalysis #technicalanalysis #chartpattern #trendpattern #uptrend #bullbear
#supportresistance #technicalindicator #indicator #waveanalysis
Disclaimer:
This published Idea is solely for the purpose of education and opinion sharing, and should not be construed as investment advice or recommendations to buy or sell any security.
Get your trade advise from a legit broker, you are responsible on your own trade.
FBMKLCI 2023 OverviewThe S&P500 rose after the release of minutes from the Federal Reserve's most recent meeting, which revealed members were laser-focused on managing inflation even as they decided to delay their rate hike pace. Officials at the Fed's policy meeting on 2022 December 13-14 agreed that the US central bank should continue to raise the cost of credit to restrict the rate of price increases, but in a gradual manner to reduce the risks to economic development. Investors were pouring into the Fed's internal debates for hints about the central bank's future course. Following the meeting, Fed Chair Jerome Powell stated that additional raises were required, striking a more hawkish tone than markets had anticipated.
My POV on KLCI could traded as low as 1000.00. International trade could affected from strengthening in USD currency whereby hawkish in import/export prices.
BJFOOD pullbackBjfood, as by 5 jan 2023, price closing rm0.98 . No new catalysts, news, either booster. Lack of popularity, momentum low, many sign of weakness, upthrust 1 day ago.
However, the trend is still bullish. Price still above MA100 and MA200. Currently testing support at 0.98. If broken may test support @ 0.935.
Next quarter report expected on early February. Usually price will be reacting with the quarterly report.
Resistance 1 rm1.06, R2 rm1.09.
Fundamental of the company is good, revenue and profit boosted from main business especially from the Starbuck Coffe. Eps 7.49 , pe 13.09 , roe 27.64 .
Recommendation, wait for volume come either at support for buy on support or after breakout for buy on breakout. Support and resistance as shown above.
This article only for learning only and self opinion. no buy call. Please do your own research.
MYX:BJFOOD
Energy Simple Chart AnalysisEnergy - Market recent rise seem to have favour the commodities too. Perhaps we all can take a look into our klse energy index. Once this pattern complete, it will set towards the next resistance 854 area there to complete the rounding bottom pattern. Individual may monitor Hibiscus & Dayang.
QES Simple Chart AnalysisQES - We can see red chip started to react these few days as QR yet to be announce. So is clear that price had been factor in before the release which i assume will be continue once global rally start to move.
A strong support being form at 0.4 area along with a double bottom pattern. 0.49 can be an immediate support & movement will retest 0.59 towards 0.66 area.
Technology Simple Chart AnalysisTechnology Index - A reset button would be an ideally the strategy for the month cause Feds had just shut down a 2022 Christmas Rally unless there is a miracle from Santa. If individual have any tech sector holdings, you may want to look at a lower price cause these double top here will boost the bear strength to slump further until a strong support can be found.
MI Simple Chart AnalysisI bought back MI to trade for a positive CPI data ahead.
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = Resistance
Light Blue = bullish/bearish pattern
Arrow = Double/Trip top/bottom
Red Chip = $$
Green Chip = XX