MMAG trade ideas
MMAG, whatever up will downMayday for MMAG?
Can short at Bursa? If not, better don't catch the falling knife.
The stock market is a highly dangerous place.
Get in, take your profit and get out quick!
If no profit, protect downside and run!!!
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.
MMAG Mid Term SetupSetup strategy:
Wait for price to test on green support zone for better risk and reward ratio, as strong downward pressure is still on the way from Monthly chart.
RSI index at neutral.
Price at Bolinger Band Mean line.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
EASY123 Prediction @MYX MMAGPrediction: BOX/Sideway Pending Breakout immediate R0.515 (Rally when it breaks 0.56)
Target Price: R1=0.555-0.58, R2=0.63-0.68 , R3=0.77-0.83
Support/Cut Loss: S1=0.44, S2=0.38
*Trend direction: BOX Pending Breakout - Rally when breaks immediate R0.515
*Yellow-Diamond( BT ) have appeared on 30-Oct, an indication of the bottom.
*Price breaks, stand above & supported by our Lifeline (Redline), an indication of an uptrend.
*Candle has turned from Red to Blue color on 13-Nov, an indication of Uptrend reversal.
*Power volume (Red volume ) appeared on 12,13 & 16-Nov, an indication of the presence of big players.
*Disclaimer: This is not a Buy or Sell suggestion but solely sharing the information...Trade at your own risk.
*Preference Strategy: Swing trading (Follow the BUY/SELL Signal respectively).
*Reminder TP & CL is an individual preference & decision. No fixed rule or guideline for it.
*If you have any queries on the signal template, feel free to drop us a message.
Signal's Interpretation:
BUY Signal:-
*BT-Yellow-Diamond = Bottom reversal signal.
*Green-Upward-Triangle = Potentially a Bottom signal.
*Blue-Candle = Market at Uptrend sentiment.
*Candle color changed from RED to BLUE & Candle stand above the lifeline (Redline).
SELL Signal:-
*Red-Dot = Potentially a Top signal.
*Yellow-Dot = Potentially a Top signal.
*Red-Candle = Market at Downtrend sentiment.
*Candle color changed from BLUE to RED.
MMAG - are we expecting rebound now?-It has been 7 consecutive days of lower lows for MMAG.
-Next support at 665.
-OBV at 200mil, the lowest since Sep 2019, indicating high selling pressure
-it all started with some market correction, profit taking and announcement by politician to form new government
-on positive notes, current PM already secure support from Sabah poll - so impact of politic instability will vanish soon
-MMAG in news highlight such as job with ECRL, e-wallet JV with Green Packet and takeover of Bestinet - these all positive news
-technically there is no sign of trend reversal just yet, it will remain bearish until further indications otherwise
MMAG - You Should Ignore the SpikeMMAG - This thinly traded stock is suddenly flushed with stronger than average buying interest, pushing it sharply. Indicators seem promising, Bollinger Band is widening & sloping upward. Is there further space left? We think the risk of riding the stock is high at current level. Resistance is getting closer at 0.35. We particularly do not like stock with sudden heavy swing, the nature of the stock is highly manipulative, so if retail traders intend to ride on it, the risk will be greater than usual, as the price is hard to predict. And the wild swing can leave one unable to react quickly in case selloff happen - like what happen to PRG on yesterday, the stock pushed to 1.30 and quickly melted down to 0.955. What will you react if this happen? So, it's good to avoid.
MMAG (0034)MYX:0034
I wish you retrace back to RM 0.20 but demand is quite strong. So temporary support will be located around RM 0.20 if break thru will be heading down to RM RM 0.160.
Target RM 0.300 , RM 0.420 and above.
Disclaimer: This is not a recommendation to buy or sell. Analysis or results above are solely based on personal opinions and for personal references. Please trade at your own risk.
