XOX
Bursa XOX Berhad - 2021Disclaimer: If you choose to follow this trading idea you do so at your own risk after giving thorough and reasonable thought and consideration to your actions. All trading is high risk and one of the most difficult activities you will ever consider. Don’t trade with money you can’t afford to lose.
XOX - Last Chance to get out at 135The last chance for XOX to rebound is to test the 135 psychological resistance level. We see there is no potential for it to break 135. We have projected this since November. Then it will move downward gradually to 0.02
XOX in correction-modeXOX currently in major downtrend based on parallel channel and its riding Correction Wave B to find a new Lower High.
There are potential limited upside to meet resistance @ 0.170 with Support @ 0.09 (RRR 1:2.2).
Breaking the downtrend channel could bring XOX to a new uptrend Impulse Wave 1 with Resistance area around 0.245
However, if 0.09 support is broken, next support could be as low as 0.055.
Volume is trading low at the moment, with not much news to report.
Banker chip is also none means there are no push from institutions.
With XOX high balance float (70% of 3.076 Billion shares), it needs bigger player to push the price higher. Relatively comparing to MYX:SEDANIA (40% of 302 Million shares) and MYX:OCK (20% of 958 Million shares), more injection needed in XOX to make the price move. Currently only 2 Corporate investors riding with XOX (KGroup, and MARA Inc making up of 12.97%) [ Source ]
Additonally, XOX will also need more good catalyst/news, like what it did on 26 Aug ( Agreement with AliPay Labs +57% in 2 days).
TAYOR guys !
p/s: I'm no expert, only a newbie trader practicing my new understanding on EW. Please help to feedback if you see any room for improvement. Thanks everyone.
XOX - BOD on Tuesday?Huge volume 1.6Bil and 1.4Bil on Thursday and Friday indicate that XOX is heavily invested with strong momentum.
It might open 0.26 on Tuesday, then look for up swing confirmation at 0.285.
It might also gap down, if that is the case then one would wait at 0.20 for a potential rebound.
XOX - sideway mode on?After big gap up on Thursday, we might expecting pullback on Friday.
Sellers push price back into BB bands.
It might sideway at .24 support if .30 is broken.
Afterall it's Friday tomorrow and we are getting into long break for Merdeka celebration.
Profit taking time.
A box or B? Picking B.
XOX - to south or north?XOX is a penny stock and the rise in the price was recently due to JV news with China company (Jiangsu Sulian). This Chinese company representing undisclosed Chinese telecommunication company. What can it be? We all know what Chinese company can do, they are advance in 5G network. But what we do know about 5G in Malaysia? Yes we know until now nobody is getting hold to the spectrum. Technically if you own technology but don't have the spectrum, it's useless here.
Today XOX closed at 0.20, a strong support.
Tomorrow if this strong support is broken then it will go to 0.18 and later 0.16.
Price action is everything. It may rebound with strong volume, watch closely.
XOX: Wildcard for 5GShareholders are keep raising their stakes and these are in August ALONE! Something is really brewing!
12 Aug 2020 - 3,000,000 (MR TAM PING KUEN, DANIEL)
12 Aug 2020 - 3,000,000 (DATUK CHAI WOON CHET)
11 Aug 2020 - 10,000,000 (MR TAM PING KUEN, DANIEL)
10 Aug 2020 - 7,000,000 (DATUK CHAI WOON CHET)
07 Aug 2020 - 4,100,000 (DATUK CHAI WOON CHET)
07 Aug 2020 - 30,000,000(MR TAM PING KUEN, DANIEL)
XOX is partnering with Jiangsu Sulian Asset Management Co Ltd to explore regional 5G network deployment. Succeeding in this, it will definitely push the price even further plus Malaysian's Government is also keen on developing 5G.
Technically, XOX strong Resistance area currently at 0.315-0.320. Succeeding in breaking that area, next couple of Resistances are 0.345 and 0.395. Support is observed at 0.265.
Training 9/8/2020 - XOXAny input @ feedback for me to improves in drawing the chart and writing down my trading plan is really appreciated. Btw, be nice please.. Thank you and have a great trading
XOX: Smart money came inSmart money came in, can be seen in malaysiastockbiz and often associated as 'good news'. XOX is still in right theme as government is exploring 5G prospect. With big tycoon came in for XOX, we may see further rise in XOX. In order for XOX to continue its bullish trend, it need to break its previous high @ 0.315 with the next immediate Resistance is observable at 0.35. Support will be 0.265
