CHGP - Uptrend may EXTEND in near term ?CHGP - Current Price : RM2.27
CHGP is bullish as the price is above 50 & 200 days EMA . It is currently forming a Bullish Pennant Pattern. Chart Pattern traders may wait for a valid BREAKOUT this pattern to trigger a buy signal.
Based on ICHIMOKU CHART, the stock made a breakout above CLOUD on 22 OCT 2024 which provides a buy signal. CHIKOU SPAN already moving above candlestick (which indicates a bullish scenario). At current moment, CHIKOU SPAN is inside the CLOUD and heading towards its resistance (LEADING SPAN 2 - the upper side of CLOUD). If the CHIKOU SPAN make a new high above the CLOUD, it will strengthen more the BULLISH outlook for this stock. As such, ICHIMOKU CHART traders may wait for the CHIKOU SPAN to break above the CLOUD to trigger a good buy signal.
Notes : CHIN HIN GROUP BERHAD is the largest shareholder of CHGP. Approximately holding 54.94% stake.
CHGP trade ideas
CHGP Weekly VCP SetupCHGP caught my attention when i study it's weekly chart. The base has been developed for 420 days.
C1: -17% (224 days)
C2: -12%
C3: -4%
The price and volume action is well developed. Let see if it will breakout the huge resistance at 0.960 or not.
Disclaimer:
Not buy call recommendation. My personal interest in technical analysis based on chart pattern and trend. Trade at your own risk.
CHGP in Harmonic PatternConsider to study and monitor CHGP where its current daily chart resembles that of a bearish bat harmonic pattern where a potential trade can be taken from fibo886 at Point C up to fibo886 extension at Point D. The chart also corresponds to a triangle formation. Potential EP, TP and CL are indicated in the trade plan.
