YONGTAI looks like to continue upsideWeekly above EM50, target TP EMA200
Daily, crossed up Ichi cloud
4Hr, crossed up Ichi cloud
Yongtai
YONGTAI may start to reboundPrice just retraced from previous BO and still above weekly Ichi cloud. Weekly already oversold.
Price already entered Daily Ichi cloud and above blue intersect line.
Price rebounded at Daily EMA200 (strong support).
There is a big volume coming in for the past few days. Might be due to a private placement.
Therefore, YONGTAI has the potential to go upside.
Bursa Yong Tai Berhad - Vaccine the BreakerThe descending/ downtrend trendline might be broke soon, probably due or supported by the latest news released regarding the rejection of the vaccine application by ministry of health claimed as rumors.
Chart trading idea are based on H1 timeframe. We can either sit tight at the nearest supply or entry once the market is open tomorrow morning.
Disclaimer: 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.
YONGTAI opportunitiesMy opinion on YONGTAI.
1) My "bullseye" target will be in Zone 2
2) Price between 0.255 to a minimum of 0.230
3) Yongtai is expected to bring in China Vaccination by the third quarter of this year.
4) They are still waiting for MOH NPRA approval to import vaccines from Shenzen Kangtai Biology.
5) Zone 2 in my opinion still the best zone to put your money on.
6) Monthly timeframe "Stoch" indicator showing that it is on the bullish trend.
Good Luck!
YONGTAI - upside bias inside symmetrical triangle?In H1, the stock currently forming symmetrical triangle in the pullback (more like handle of cup and handle pattern). With the positive news today, we could expect some upside movement inside the triangle.
R 0.335
S 0.290, 0.275
This will be invalid if price continues to break previous HL 0.275
Speed: Fast with 457M shares float (44% float of 1040M shares),
Sentimen: Positive sentimen on vaccine distribution deals with TNLOGIS ( TheEdge 7-Jan-2021 )
TAYOR
YONGTAI - is it enough?In only 4 days, YONGTAI has climbed +156%. All indicators are oversold so we should be ready for a possible pullback.
H4 chart observed a very large cup (minus handle) pattern. If this is correct, the pullback could end around resistance zone (0.16-0.24) before making a reversal to complete the handle formation, and probably preparing for a larger breakout with TP 0.695 - but it won’t be easy with lots of resistance it needs to passed - so this is long term.
The best is to buy on dip, to avoid any bull trap along the way.
YONGTAI is a heavy stock with large float (44% float of 1040M shares), comparing to its sector competitor BCB (13% of 412M shares). This could be a potential friction for price movement during sector play.
TAYOR
YONG TAI STILL DOWNTREND(UNDER MONITOR)IF PRICE BREAK TL AND CROSS MA, YOU CAN CONSIDER TO BUY. IF PRICE BREAK THE SUPPORT LINE, IMMEDIATELY CUT LOSS(PANIC SELLING SURPRISE)
