IRIS, Direction sidewayThe market direction remains in a sideways trend, but there's potential for a rebound as prices have hit a lower limit around 0.0.28, indicating accumulation by buyers at this level.
This accumulation is signaled by the algorithm, with the appearance of blue signals occurring multiple times before during rebounds above the support level.
IRIS trade ideas
Can Iris make-it?On Fri 24 Feb Iris had reported its Qr and the result was considerably good. The market reacted to the result by pushing the share price which was struggling to even hold at 0.110 at that time to close at 0.120.
On the chart wise,
1) the volume is still low (below 14 ma) indicates Sellers are weakening and Buyer's low appetite.
2) the stochastic is in oversold territory which indicate the risk reward to the downside is smaller compare to the upside.
3) the RSI is showing divergence to the price action (white line) which may indicate that a reversal to take place.
If the QR result can bring the confidance back to investors, a reversal may really take place.
On the upside, it may fill the gap at 0.135 and the next resistant is at 0.165 followed by 0.195.
To the downside, if it cannot hold the RSI trending line (white line) and break down 0.105 price action, it may reach to 0.09 support followed by 0.08 and 0.06.
Disclaimer:
This is not a Buy / Sell call. This material is for learning purposes only.
Consult your financial advisor and trade at your own risk.
Can Iris Climb Out Wall of Misery?Iris Corp is the awarded company with a Rm 1.1b Niise project after SKIN project had been terminated. Only that, recently there is an investigation on the appropriateness conduct during the award process.
The share price had tanked since the announcement it won Niise project until today. Currently there is a huge battlefield between Sellers and Buyers at around 0.110 ~ 0.120.
Even so, looking at the RSI it is touching upward moving line while the Stoch is at oversold territory.
On chart pattern wise, it had escaped from a tremendous bearish channel. It also indicate triple bottom and triple top which is left undecided yet.
Whether the RSI will bounce and gain back the momentum after it touch this line is depend on 0.110 critical price point. Break below this point will indicate further weakness and potentially move to 0.090.
On the upside, there is a gap to be fill at 0.135. If it move and fill the gap, next resistant will be 0.165 followed by 0.195.
Disclaimer:
This is not a Buy / Sell call. This material is for learning purposes only.
Trade at your own risk.
IRIS REBOUNDNG AT FIBO786 IN WEEKLYCan try to take a long position on IRIS as spotted rebounding at fibo786 in weekly chart with a volatility change to positive. Probably retracement EP would be at current price and TP at fibo618 in weekly chart. CL when the volatility changes to negative as depicted in the proposed trade plan.
Iris in Imminent Falling Triangle BreakoutIris had started forming a Bullish Falling Triangle pattern on somewhere in Mid Jan '21.
Eventhough they had been awarded with goverment project (NIIS) in March, the pattern keep intact.
Recently the triangle band had become narrowed. I anticipate that Iris had done it's final pullback and ready to breakout from the pattern.
Currently:
1) it had reached the 0.205 support line which was created during its uptred pullback (more than 1 yr ago).
2) If we look at its lower low price line (a) and compare with its RSI (a') , we can see that the RSI is pointing up which show that eventhough it is making lower low but it is gaining more strength and hopefully will become a momentum for Iris.
Disclaimer: This is NOT a Buy / Sell call. This analysis is for learning purpose only.
IRIS - Downtrend Continue ?Starting last week, the trend starting to downtrend.
On 2 Mac already break support 0.360.
Current indicator:
- Stochastic drop to Oversold
- Momentum below 0
- Huge distribution activity
- No Banker Chip In activity
Projection:
- Trend will continue down if break intermediate support 0.315.
- Trend will heavily down if break 0.270.
Trend Reversal:
- If trend bounce up at 0.315 and continue to break 0.360, it is trend reversal indicator (trend up).
#NotBuySellCall
#EducationalPurpose
Bursa IRIS Corporation BerhadTriple TOP has been formed from the ascending/ uptrend trend. Attempt to break the 0.450 with the triple top pattern and soon the price will break that price & moving above 0.40.
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.
IRIS - Eyeing for Potential Breakout to 2014 highStrategy: Trading Range or Hold for Breakout
With the news flow coming in recently for IRIS we can see exactly that the insider play already in. When the news realized, as expected gap up and sell on news. IRIS always being speculated all the time when I start entering the stock market in 2007 till now while PENTAMASTER (the peers during this time still penny) already become bangsatwan stock.
For Bilis Traders, dont feel sad and try to average at the zone mark there where 2 rebound from the zone and high potentially to rebound for 3rd times and potentially to breakout and reach again at 2014 high.
With the current market sentiment, i would say its inevitable unless insider play and politician playing the plot again.
Good Luck !!
-Heil_Z-
#Are-Snuff Traders Club
#Bilis Traders Group
