NEXG - Looking for potential bullish sentiment.N wave with N, V & NT projection.
The stock has been in a downtrend until mid-March 2025, bottoming around 0.22 MYR.
Since then, a recovery wave formed with a classic ABC corrective pattern:
(A) bottom in mid-April
(B) a peak near 0.39 MYR
(C) a higher low near 0.30 in early May
The price recently moved above the down Kumo, indicating a potential trend reversal from bearish to bullish.
Entry: Consider entering a long position around the current price (0.375) since the price has broken above the down Kumo, indicating bullish momentum.
Stop-Loss: Set a stop-loss slightly below the recent low/C point (around 0.295 - 0.30) to minimize downside risk.
Monitor volume and price action closely around resistance zones.
If price fails to sustain above the cloud or drops back below 0.35, consider exiting the position to protect capital.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
