ANNUM trade ideas
ANNUM (MALAYSIAN STOCKS) INTRADAYExpected to rebound at 0.40 MYR.
Targeted resistance at 0.50 MYR.
(1) The price inclining while the volumes insisted prior to previous prices. Expected on continuous bearish trend if the price couldn't break the resistance.
(2) Within the current global economy onto further OPR leads to underperformance in markets.
A Rebound Pattern!The candlestick indicates a rebound pattern where the closed above the MA20 line. Where next price resistance will be the MA50 line. If the price breaks out and crosses over then closed above the MA50 line. Then, a high possibility the price will trace back to Point of Control (POC) indicates in the red line where the price level with most trades took place. The range of prices around the POC contains 70% of the total volumes for the period of 3 months.
MACD and OBV indicators indicate a divergence signal with the price moving in towards the next price resistance; both indicators and price are moving in the same direction.
Let's save ANNUM in WL and watch out for significant price movement toward the MA50 line as a price resistance.
R 0.430
S 0.355
ANNUM Is In Rally Up pattern!Significant price movement from previous trade makes the candlestick close above the upper Bollinger Band (BB). Will the price continue the price rally momentum and hit the RM1.48 level? MACD and OBV charts indicate a positive uptrend. Hence, high possibility of a long trade position.
R 1.26
S 1.05