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.
QES
QES TECHNICAL ANALYSISTechnical analysis for QES Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- Overall trend still maintaining the long term UTL.
- Current price candle trend from JULY-OCT 21 had retracement with price move lower accompany by decreasing volume indicates anomalies-price move lower without MM participation. Possibility this is a temporary retracement, not changing in trend.
- Latest OCT 21 monthly candle shows a short body with upper and lower wick accompany by low volume signal indecision-reversal may occur.
2) In Weekly TF
- Overall trend still maintaining the long term UTL and break out the mid-term DTL indicate the end of retracement.
- Current price candle trend moves in shorter range with low volume with significance VAP in 0.790-0.825 area indicate this is accumulation area. Need to look for Pivot high and Pivot low candle.
- Latest 1 Nov 21 Weekly candle show a long body with small upper and lower wick accompany by high volume break the mid-term DTL. This price action breakout is validate by volume given.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and the possibility of Bullish Pennant to occur with highest VAP in 0.835-0.850 area as strong resistance area.
- Current daily price candle trend is retraced and staying at Fibo 0.50 area are implies indecision. Current price candle in congestion period with price candle move in short range accompany by low volume indicate accumulation phase occur to build up the momentum in order to break the strong resistance area above.
- Latest 5 Nov 21 candle give a long bullish candle with significance upper wick and short lower wick accompany by very high volume-volume validate the price candle. Price may move lower back to immediate support to remove significance seller that still occur in the market and to build up the momentum.
QES Continuous Rounding Bottom BOShort term traders can continue to ride on its continuous upward momentum movement on next trading day as confirmed by FIFT and ExpertSignal indicators. Banker chips at near 80%. Perfect rounding bottom breakout will happen soon if it manages to stay above 590 for coming weeks.
Support at 545 and another candle is needed to see if 590 will be new resistance turn support. New ATH beyond 665 is possible. Another Sen to Ringgit Champ candidate in my portfolio.
Disclaimer: Trade at your own risk.
QES TECHNICAL VIEWBroke descending triangle upper line on 23th March.
Then went into rectangle channel which broke out/closed above 0.55 and as at 16th April it closed above 0.575 huge resistance line.
Next resistance foresee at 0.66 which is around all-time-high.
R1: 0.62
R2: 0.66
S1: 0.575
S2: 0.545
QES will further PullbackThere is possibility QES will further retrace to near 535 area, the next strong support after it closed within the current strong support zone between 600 and 560 with the slowing momentum.
The best entry price will be between 535 and 540 to take advantage of possibility the price will be pushed up just before QR for the coming week.
Disclaimer: Trade at your own risk.
Buy on Uptrend Channel Breakout (BULL)QES ~ very BULL
3 days confirmed stand above uptrend channel (very bullish)
Yesterday test previous resistance 0.35. Resistance turned into the support area. Can set main support at 0.35.
Today breakout neckline resistance.
FA - Healthy
Valuation - not yet too overvalue compare to other technology stock
Unisem suppliers - Recently be awarded a lot of order from Unisem
News - Technology supply chain shortage (international giant tech company request tsmc taiwan to increase production to 200% haha
QES - accumulating in ascending trianglePrice action shows formation of ascending triangle and its attempting to complete a Higher Low inside the pattern. Volume is reducing in the pullback - good sign. We expect the price to continue down before a reversal. We can wait at 38.2% Fibo (and confirm with reversal chart pattern) for long entry.
Speed: Fast with 258M shares float (31% of 834M shares)
TAYOR