DNEX trade ideas
LOW CHEAT DNEXTechnology sector.Last 2 quarters shows significant sales and profit consecutively.Price forming low cheat setup and broke the pivot point with high volume
Dnex : Reaccumulation after DeclineJust showing here the example of reaccumulation type 1 that happens to Dnex
DNEX_3rdDNeX could be in the running to secure two more long-term agreements (LTAs) which are similar to the multi-year long-term wafer supply agreements - The Edge. I expect a small retracement since its already been up bout 50%.
DNEX_2ndSeems like dnex going to play along with the market, next year I think there is a big news for dnex (I think)....
DAGANG NEXCHANGE #DNEX #4456Possibly Dnex will run thru quite some times of sideway consolidation before rocket up.
Let's see how it goes!
DNEX - Seems Strong To Test Previous High !!DNEX seems strong to continue movement after making retracement to test its Cup and Handle breaking point. Short term target will try to retest RM1.00 and RM1.05. Break and Sustained above this level will continue uptrend movement.
road to Rm1.60dnex is about to break up the sideway ,resume uptrend . estimated it can go Rm1.60 within this year.
wait for retracement set your buy limit near at 0.825 .stop loss at 0.820 take profit at above 0.995.
DNEX fly? DNEX in TF 1 Week is in an uptrend phase where the green line is above the red line. With the newly crossed MACD above the 0 level followed by an upward stochastic, it is likely that the DNEX will make an unusual acceleration. Let's see the acceleration of DNEX.
Long for Wave Z for DNEXIt is still in zigzag, target DNEX to achieve 61.8% from X to Y wave.
Currently at smaller time frame of B, before going down to complete wave c, later up to the target area.
DNEX Techincal AnalysisMany gurus & group have already done their analysis on the future prospects of the company so let's talk about the technical part of the share movement of the company for the past 8 months.
From 0.20 to highest 1.05 in just 2 months with return of approx 450% during early of the year 2021, I believe many investors and traders have benefited from the drastic share movement of the company especially from the company warrant WD. Sky rocketing of a company share price in short period usually will draw market attention hence triggered profit taking from investors and traders. This is not the case similar to Genetec company with share volume of only 52m made easier to push the company share price. Dnex is a extremely heavy on its share volume of 3,090m especially after conversion of the company warrants and Private Placement. Hence, the company share price needs time to digest after shooting 450% in just 2 months.
I've seen many groups and gurus keep shouting on this company recently in telegram with their analysis of breakout from the triangle chart pattern (although I expect them to do thorough and meaningful chart analysis instead of just saying breakout from triangle chart pattern as I think most traders also know how to see lol). I don't know they are real investors or just want to speculate on this counter since the company share volume is real heavy but hopefully the market will soon treat it as a company with fundamental but not penny stock.
For the past 8 months, the share movement have went through 5 contractions/sell-down and every contraction kept narrowed as follow (refer to chart as well):
-39.41% in 56 days
-29.56% in 27 days
-17.73% in 22 days
-12.84% in 12 days
-6.14% in 4 days
The figures shown above are showing diminishing supply characteristics with decreasing volatility (refer to volume based on 20 MA showing downtrend line since March 2021) and it fulfill the characteristics of Volatility Contraction Pattern or VCP.
Characteristics of VPC
1.) Strong Underlying Demand;
2.) Overbought comes with Strong Selling Pressure; (Demand < Supply)
3.) Diminishing Supply Characteristics;
4.) Decreasing Volatility;
5.) Explosive Breakout (Demand > Supply)
Also to notice the chart pattern kept forming higher low and also with lower high but recent chart pattern seems want to form higher high which is a good signal for the share movement.
Nobody will know how's the share price movement in future but in order to in tact with the ideal chart pattern, the share price must be supported at 0.82 & 0.80. VCP is a very common theory in share market and everyone in share market also knows it. Most of the time the movement of a share price will not follow exactly the theory (sometimes the chart pattern too perfect I will scare also haha) we learnt so do your risk management before enter a trade but hopefully it will works this time (been tortured for so many times in counter as an investor haha).
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DNEXwaiting the right catalyst, someone is collecting i think. but i have the kind of feeling that it's near "soon".
DNEX, ALREADY BO DTL?Dnex idea
using chart pattern
seems already break out major DTL
when to buy?
better price make a new structure and momentum
tayor
DNEX Triangle pattern formed, waiting for breakout to the upside or downside. A very typical chart pattern.
DNEX Symmetrical Triangle Pattern (monitor for BO)Pattern: Symmetrical Triangle (wait for BO)
MACD GC towards 0
RSI>50 STO>50
HA: uptrend Green >MA5
ADX:+ve
MOM: >0
MA: 20/50 cross & >200
FI: +ve
PSAR: Uptrend
CP: 0.77 (25/10)
TP: 0.83/0.865(FIBO)/0.925/.995
CL: 0.735/0.705
Dnex exhibits beautiful chart patternPredicted if price can break out above triangle pattern, Dnex could hit above 52 week high
