MNHLDG 4H Chart Analysis & Trading Plan SummaryBased on the 4-hour TradingView chart for MNHLDG, the stock is currently trading near RM1.30 and showing signs of attempting a retest towards its previous high near RM1.40. However, looking at the overall setup, we anticipate a possible short-term pullback before any potential breakout occurs.
Key Observations:
Trend & Structure: The stock has been trending upward with higher lows and is currently trading within a consolidation zone between RM1.25 and RM1.30. The horizontal resistance at RM1.30 has been tested multiple times, indicating seller presence at this zone.
Volume: Volume remains relatively flat with no significant surge, suggesting cautious accumulation rather than strong breakout momentum.
Indicators:
RSI is hovering just below the overbought region (~60), suggesting that while momentum is positive, a short breather may happen.
Stochastic Histogram shows a weakening bullish crossover and may begin to flatten or dip soon, supporting the pullback scenario.
Bollinger Bands are tightening slightly, implying upcoming volatility but not necessarily an immediate breakout.
Support Zones:
RM1.25 (minor support and previously tested level).
RM1.21 (more significant support — also in confluence with the mid-Bollinger line and prior swing low).
Resistance: RM1.30 (immediate), followed by RM1.40 (ATH).
Trading Plan:
Entry Zone (Accumulation Area):
RM1.25 to RM1.21 (look for bullish reversal candle or bounce confirmation).
Profit Target (TP):
TP1: RM1.30 (first resistance, quick trade opportunity).
TP2: RM1.40 (all-time high — strong resistance).
Stop Loss (SL):
Below RM1.18 (under previous swing low — invalidates the bullish structure).
Risk-Reward:
From RM1.22 entry, SL at RM1.18 and TP at RM1.40 offers a solid 4.5:1 reward-to-risk setup.
Summary:
MNHLDG shows a healthy uptrend with a potential for new highs, but current indicators suggest a temporary pullback could occur before the next leg up. A more ideal entry would be near RM1.22–1.25 support zone, riding the wave towards RM1.30 and possibly RM1.40. Be patient for a proper setup confirmation.
Disclaimer: This analysis is for educational purposes only and does not constitute a buy or sell recommendation. I am not affiliated with any brokers or advisory firms.
