Public Bank Stock Price just stalled @ all time long term up trend line ( cyan) support. Its Price could reach @ 6.800 +/- ( a potential of 72.15% growth from current 3.950 ) before a deep pullback.
PBBank. Look like we have A VCP chart pattern. A chart pattern “refined” by famous Mark Minervini ( US 1997, 2021 investing championship winner) which got inspired by William J. O’Neil defined “Cup and handle” pattern..p/s or anything “chart pattern” you have “discovered/defined “? Making it “famous”?...Also the “cup & handle / VCP” pattern “closed” to 1 of...
From 2003 to 2018, each cycle from peak to peak for FINANCE index lasts between 36-46 months. Recent high in early May 2022 is equivalent to 49 months. Other indicators: - Negative divergence on monthly chart (CCI) - Similar negative divergence also appear on the monthly chart for big caps like PBBANK, MAYBANK, HLBANK, CIMB.
Public Bank possible having a pullback toward wave e (green circled) of a triangle in wave 4 (yellow) where’s price could stalled at around Rm4.20. Target profit would be around Rm10..
Public Bank ( PBBank) possible is still forming its expanding wave pattern ABC (yellow) in wave (B)(cyan) where price could only completed its bearish correction in overall bullish content at around RM3.73 which are : - 1) Gap Filling 2) Monthly Demand Zone 3) The Support line of the expanding ending diagonal pattern i, ii, iii, iv, v ( Green Circled)..
1)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
P/s. To have more "consistent" Elliot Wave Counts.. Unlike Text Book written Elliot Wave Theory :- There is 5 sub-waves in any Impulsive Waves .. Traders are advised to label ONLY a-b-c 3 Sub-waves on ANY Impulsive Waves...
PBBANK may completed wave D ( Yellow) of Bullish Triangle Pattern while waiting for Malaysia Budget 2022 Dated on 29/)ct/2021. Price of Public Bank may retrace back just below Rm4.00 before resuming its up trend..
PBBANK possible reach wave E (yellow) soon of the triangle pattern as price now at the confluence zone of 1) POC ( Point of Control)(Red Horizontal Line) of the volume/market Profile *Most Buyers Spent Time/Price Zone" = Very Strong Support Zone ..as superimposed image inside the chart .. 2)Price now also at 233 EMA (Deviation) (2 white EMA lines)
PUBLIC Bank back to triangle idea. Price probably on last leg down to wave E (yellow). Where price could resuming its uptrend at around RM3.93
PBBANK Stock price have broken the down trend line of descending wedge pattern (Red dashed line) . Probably Completed an expanding flat pattern (ABC yellow) instead of bullish triangle pattern..
Public Bank Price Seem ranging above 4.00 and may form a bullish descending triangle . Price Could hovering around RM4.00 again at wave E (Yellow) of triangle before resuming its uptrend toward above Rm6.00..
PUBLIC Bank price possible having a pullback toward around RM3.60 that is about -14% from current Price Closed level : Rm4.19 before resuming its uptrend toward around RM8.35 . where there is a confluence of 1) Up Trend Line Support Since March 2020 low ...2) Next Major Demand Zone ....
Since bank shares rallied in Nov and Dec 2020, PBBANK has been trading sideways for the past 6 months. Despite constant selling by EPF, the share price has sustained above RM4 Bollinger band and volatility has narrowed significantly over the past 6 months, especially in the past 4 weeks. 1st band: 14% 2nd band: 11% 3rd band: 9% 4th band: 3% 5th band: 2.5% 6th...
There was a Pin Bar in monthly chart of Public Bank Stock Price..
Detail @ The Chart.