NORTHERN MYX:NORTHERN
📊 Short-Term Bias: Neutral to Bullish (Consolidation with Breakout Potential)
🔎 Decision Point: RM 0.565 - 0.580 → If it breaks above, expect bullish momentum towards
0.630 (IPO Price)
📢 Risk Management: If price falls below 0.525, the bullish setup is invalidated.
📢 Disclaimer
The trading ideas and analysis provided are for informational purposes only and do not constitute financial advice. Trading involves risk, and past performance is not a guarantee of future results. Always conduct your own research and use proper risk management. I am not liable for any financial losses.
📌 Trade responsibly. Invest only what you can afford to lose.
NORTHERN trade ideas
NORTHERN, go southern?The stock price continues to decline, making capital protection a priority. Cutting losses (CL) quickly may be necessary to mitigate further downside risk.
Currently, the Relative Strength Index (RSI) is in oversold territory, indicating potential exhaustion in selling pressure. However, the Moving Average Convergence Divergence (MACD) remains in a downward crossover (DC), suggesting that bearish momentum is still intact.
As of now, there is no clear signal of a rebound. For a trend reversal to be confirmed, the stock needs to establish a pattern of higher highs and higher lows, forming an upward staircase. A decisive breakout above a key resistance level would be the first sign of a potential trend reversal.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a qualified financial professional before making any investment decisions.