MAHSING trade ideas
Smashing MAHSINGCorporate Name : MAH SING GROUP BERHAD
Symbol & Code : MAHSING (8583)
Board : MAIN
Shariah : Compliant
Sector : Property
Sub-Sector : Property
• Weekly: Price breaks out when 20ma crosses 50ma. Now it is making higher low exactly on 20ma and major trend line.
• Daily : Daily chart does not look too convincing with price keeps breaking below 20ma lines and now below 50ma. It still hovers above the major trend line. If 20ma starts crossing above 50ma again, it will be a sharp ascend of price.
• 0.84-0.89
MAHSING STILL CAN SING ? WEEKLY
We might see a downtrend here, MACD has shown indication of a sell
This might be true because the Bulls are losing their STEAM !
MahSing might drop to a greater demand zone at 70 cents
Weekly timeframe has a stronger implication on the candles, the market is indecisive on where mahsing should go
Watch if 90cent is sustainable this upcoming week, If yes then we might see a technical pull back from the drop
MAHSING (8/11/2020) - A new horizonMAHSING completed Wave 4 @ 0.86, and its making its way for Wave 5, if moving within the parallel channel, could end up at around 1.87.
A good entry would be a breakout resistance 1.04, with support zone of 0.86-0.91, and Resistance of 1.26 (RRR 1:2), 1.44 (RRR 1:3.4)
Volume is still good, but not good enough to push it higher at the moment. Banker chip is > 50% - more rooms to grow.
The stock has competitive balance float (21% of 2402M shares), relatively compared to MYX:SPSETIA (10% of 4057M shares). Among institution holding the stock is PNB and Bank of Singapore. This proves the stock has good fundamental, and would result to a lighter price action. Source
Good sentiment and news would exponentially accelerates it - such as the report that MAHSING now is investing MYR150M into gloves production with annual capacity of 3.68 Billion pieces, commencing in April 2021 (Relatively TOPGLOV annual capacity is 85.5 Billion) Source
As of today, highest target price is by AmInvest which is 1.50 (16-Oct-2020) Source
TAYOR guys !
Disclaimer: I’m a newbie trader practicing my understanding. Please help to feedback if you see any room for improvement. Thanks everyone.
Is MAHSING going down?LT
HHHL + Y1> BHOG @ 1
fake strong downtrend
TP @ 0.055
ST
LLLH + Y1<Y2
got power down
BHOG @ 3
rolling stone if W&R; success
TP @ 0.580
Even though it is a fake strong downtrend in LT, there is no significant indicator that it will reverse up. Unless the W&R; bullish @ 0.630 succeed, or next wave make a HHHL.
LONG GAME MAHSINGBased on what i saw inside the chart, here is my conclusion based on "trade what u see"
1. Bearish harmonic pattern indicates that the price has the possibility to reach out the green line before doing the reversal price at the BLUE line.
This counter might be possible to enter for long. For those who prefer to TP short and made an EP below, congrates ! For those who wants to play long for MAHSING, you've gotta wait the price to retrace first before make an EP.
All the best traders ! TAYOR....