RANHILL May 2024 : Sell on news , and the reaction at 10WEMA
was in a good uptrend , then a sudden sell on news.
news trigger :
" KUALA LUMPUR (May 28): YTL Power International Bhd’s (KL:YTLPOWR) 70% subsidiary SIPP Power Sdn Bhd is buying 405.18 million shares, or a 31.42% stake, in Ranhill Utilities Bhd (KL:RANHILL) for RM405.18 million or 99.5 sen per share "
- gap down on massive volume , unable to recover ( long upper wick , close below VP POC )
the reaction :
- sell-off halted by 10 weeks EMA
- 50 days moving average
- Value Area Low of P-Profile
