Supermx. Why it already @ multi year “bottom”? 7/Nov/22.Supermx. “Why” its stock price having “high probability “ @ multi years “bottom”?! The “answer” lie within this “bunches of” ema crossover! BUT it’s not “a simple” so called ema’s crossover / ema’s act as support/resistance “ strategies. You got to “see/check” stock’s price “whole pic” from yearly to 1 min chart..It might take you > 10 years / 10k hours to find the answer as I did. EMA is the ONLY indicator I still keep it now to “confirm my entries on the empty right space of any chart” after “trial and error/ back testing,super” few hundreds even thousand indicators/system. You probably won’t see my past analysis with “bunch of ema’s” because it “look messy” as “most expert traders” will tell you try to keep your chart “ as simple as possible “..But to be honest there is nothing is “simple” chart in trading. As a “simple ema system” is not just a “simple” ema crossover/support/resistance strategies”... Those “master traders” said so because only they have tried hundreds if not indicators but system only they could come into “zen / zone” stage by “throwing” unnecessary staffs. But novice will learn the piece by piece only by reading “simple chart”..Tips : Always try to “discover” with why/ how.. As human’s most “inventions” get inspired by “discovery/ explorations” ..To have “discover” new things Once a while we need to break the rules. E.g. The world “most laws/rule/standards protocols” is set by westerners so to have “innovative ideas” we must “break their rules” once a while as they break their own ancestors’s “rules”..
Supermax
Selling pressure is in HARTA
*refer to the image link*
Today HARTA is trading with high volume at the high price in the morning, while price is not marking higher.
This indicates the big boys have no intention to mark the price higher & a price retracement is on the way.
High volume price down happens around 11:40 & 12:15 shows the selling pressure is in.
We see a few glove makers are having the same price & volume movement. Today shows the first day of high volume sell down within the day. We expect price retrace in the next few days.
Supermx. Finding its ying/Yang force with channel. 14/July/22.Supermx. Today I gonna “bullsxxxing” a “myth” about ying ( seller force ) , Yang ( buyer force ) AND neutral force ( median line of parallel channel) again “represented” with parallel channel. P/s Since tradingview “free user” don’t have enough data feed. I have to “superimposed image” by using 3rd party apps to have more “history data” for “whole view” of its chart where it is still publishable in tradingview.
Supermx may found its “base” soon. 19/ June/22Disclaimer : All past, present, future charts are all for illustration, research, studies purpose ONLY.. Supermx May start building its base soon before deep pullback from “downtrend “ as price now @ 1) major demand Zone 2) Major up trend line ( Cyan dashed line )..
Supermax Support & ResistancePersonally, what I learnt is there must be a Technical Analysis Strategic Plan in order to increase the risk-to-ratios favourable risks.
1. Draw Support & Resistance
2. Identify the stages (Accumulation, Advancing, Distribution, Declining)
3. Entry Triggers
4. Stop Loss
5. Exits
I have learnt during my past mistakes that we should let the stock price comes to us, rather than us chasing the stock prices!
SUPERMX - Selldown Pressure Over, Time to rev up to the MAXEntry Strategy:
1) Entry inside the purple line range - Highly potential reversal trend zone.
2) CL1 and CL2 below the purple line.
Chart:
1) 2020 - Glittering news for glove stock due to unprecedented demand. During this time people risk in on forecast profit growth anticipated.
2) As per expected, whatever boom up need to boom down also - nature of life (kadang2 kita di bawah kadang2 kita diatas)
3) For QR result announcement - people that risk in before will usually sell on news
4) Below EMA line - showing bearish trend start to power the play
I am nubis, i am non-premium members ..follow if you think this idea make sense..just sit back, relax and make some money.
-Heil_Z-
# Are-snuff Traders Club
# Bilis Traders Group
Supermax Break Resistance, Sign of Trend Reversal!Personally, what I learnt is there must be a Technical Analysis Strategic Plan in order to increase the risk-to-ratios favourable risks.
1. Draw Support & Resistance
2. Identify the stages (Accumulation, Advancing, Distribution, Declining)
3. Entry Triggers
4. Stop Loss
5. Exits
I have learnt during my past mistakes that we should let the stock price comes to us, rather than us chasing the stock prices!
Has Supermax bottomed? Or are we seeing HOPE yet?Can we start to hope for further upside in Supermax? I would answer yes if Supermax can find strong support at RM 6.70 and start to break and close above RM 7.50.
I think the right question to ask right now is has Supermax bottomed? From chart perspective wise, I believe Supermax has not bottomed yet and we could likely see further downside pressure if it breaks and closes below RM 6.60. RM 6.60 is a very crucial level now that the bulls must protect. A failure at this level, could see Supermax retest RM 5.80 level again which is also current daily 200 moving average. Therefore short term wise, I am not bullish on Supermax until it breaks and closes above RM 7.50 again.
Further to this, if bulls fail to also protect RM 5.80 level if it is being retested, it could send Supermax downward some more to around RM 4 range as this range is also the 62% to 78% Fibonacci Retracement level according to the march dip and august peak. Therefore now bulls must strongly protect RM 6.70 level and pushes it up further above RM 7.50 or else bears will have control at this territory.
To support further on the argument of Supermax has not reached its bottom yet, we can study it from the Elliot's wave theory of corrective move ABC. ABC talks above the trend reversal. Early to mid of this year we saw a strong uptrend momentum on Supermax. However in August we started to see a trend reversal for Supermax. This trend reversal can be read as ABC. A wave in this scenario will trend down which took place on 7th Aug in sending down its price from RM11.95 to RM5.55, creating a downward pressure RM 6.40. Then B wave took place in driving up the price to RM 10.65 on 20th October. So how far the next C wave can send Supermax down? The answer is gotten by substracting RM 6.40 from RM 10.65 which will give us RM 4.25. With this, we can believe a further downside pressure could send Supermax down to RM4.25.
In all circumstances, there is always hope, lets hope Supermax to quickly breaks and closes above RM 7.50! Cheers and bye for now! Merry X'mas to everyone! God bless!
SUPERMAX Buying ZoneHello Traders
Here is a quick analysis on Supermax. Currently price is in correction for Wave 3 Higher Degree.
Price will retrace back to the buying zone and making the final wave which is Subwave 5 in Wave 3
I expecting some big movement on 30th November 2020 base on Fibonacci Time Zone.
The even will occur 2-3 days before or maybe after 30th November 2020
MYX:SUPERMX
MYX:Supermax may form Double TopSupermax may rebound and form a Double Top. The short stint drop down on 14 July was not supposed to be a surprised for Suoermax since it almost hit its highest targeted TP ie:around RM18 . List of Supermax official Target TP can be seen here
klse.i3investor.com
Though one may pointed out it actually a regional fund manager doing profit taking as it also affecting other glove counters in Malaysia and outside regionally.
So moving fwd Supermax may rebound a bit more than the last high dragging up all other 2nd liners to form their new high. Probably above rm 18 to instill confidence on 2nd liners running up. It is crucial here to get announcement of a new higher target TP from Analyst without which the price will then drop down together for a major retracement much lower to touch the middle Bollinger band at MA20.
Consolidating while waiting for a new revised higher official target TP from analyst for the price to move upwards. This is due to the fact Institutions will need those kind of official announcement internally or externally in order to warrant them to invest in the targeted counter
It may not happen that way and Supermax may continue Breakout the previous high with some other good news coming in.
Nevertheless it is better safe than sorry.
Good luck and trade a your own risk.