HONGSENG - Trendline breakoutPrice has broken the trendline on 29/07/2022 and formed pullback around the trendline area.
Would this indicates for MYX:HONGSENG to change direction to uptrend?
Potential entry:
RM0.495 - RM0.57
Resistance:
RM0.505 / RM0.54
Support:
RM0.49
Disclaimer: This trading idea is for education purpose only. This is not a buy call nor a stock recommendation. Please trade at your own responsibility.
HONGSENG trade ideas
HONGSENG PENNANT BREAK OUTConsider to study and monitor HONGSENG which appears to break-out from a pennant formation and that the price has also crossed up the pivot point. In addition, HONGSENG's pattern also resembles that of Elliott Waves' ABC corrective zone formation on regular flat. The potential EP, CL and TP are indicated in the chart.
BTST tradeLooking Good to take from the reversal .For Target and Stop loss
For KLSE stocks intra day and contra day trading for Target and Stop loss
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Market Cap: 8705 M.
Number of Shares: 2553 M.
Adjusted Float: 55.3%.
Stock highly correlated with
GENETEC (96%)
BPPLAS (95%)
NGGB (93%)
SAM (93%)
HONGSENGToo high already, or buy high sell higher
the price already up 240%++
but the volume pattern is decreasing gradually
in short , price UP volume DOWN, ..tend to bearish
but to who wanna try, better use trade Breakout strategy
but, me personally prefer to wait until the price pull back
dont FOMO
trade as planned
hepi trading gais