Public Bank Buy SignalP/E trend about industry rate of 11.3. Strong financial a head due strong borrowing for businesses. Continue buy signal 4.48, quarterly results out soon.
PBBANK trade ideas
PBBANK, still can go further?The overall outlook remains positive, but it's important to note that negative divergence has formed on both the daily and weekly charts. This indicates that the price is moving higher, but the momentum behind the move is weakening.
As a result, it's prudent to protect your downside by setting a tight trailing stop loss. A trailing stop loss is an order that is placed at a certain distance below the current market price. If the price falls to the stop loss level, the order is triggered and your position is closed, limiting your potential losses.
By taking these steps, you can help to manage your risk and potentially increase your chances of profiting from the market.
It's crucial to not only know the right time to buy but, more importantly, to be ready and willing to sell when the time comes!
Disclaimer: The mentioned stocks are based solely on personal opinions for educational and discussion purposes only. There are no buy or sell recommendations. Trading involves financial risk, and you are responsible for your own decisions. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the information contained herein.
PBBank price stalled @ long term trend line. 16/March/23Public Bank Stock Price just stalled @ all time long term up trend line ( cyan) support. Its Price could reach @ 6.800 +/- ( a potential of 72.15% growth from current 3.950 ) before a deep pullback.
Proposed Market future behavior in time and price.
This is a Malaysian Stock (Public Bank) spanning 32 years. This is a monthly chart.
The future price and time projection is based on
a) Elliott Wave Theory
b) Fibonacci Retracement
c) Fibonacci Trend Based Timeline
d) Andrew Pitchfork
e) Gann Fan.
PBBank VCP aka cup & handle pattern. 20/Sept/22PBBank. Look like we have A VCP chart pattern. A chart pattern “refined” by famous Mark Minervini ( US 1997, 2021 investing championship winner) which got inspired by William J. O’Neil defined “Cup and handle” pattern..p/s or anything “chart pattern” you have “discovered/defined “? Making it “famous”?...Also the “cup & handle / VCP” pattern “closed” to 1 of variation of “triangle pattern” which is “ascending triangle “...with breakout. With rate hike all over the world. Banking sector might be “benefit” most. Price of PBBank could reach RM6.80 which is about 47.47% gain from current price level.
PUBLIC BANK - Bearish Signal appear againSign of Weakness:
1. Bearish Signal
2. Sell-Off bar with increasing volume
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Looking at a market from multiple anglesThis is an example of looking at a market from multiple angles.
And it is important to do so, also.
In this market analysis, I used Trendlines with specific tool Fibonacci Channels, Andrew Pitchfork.
There are a few common indicators used e.g. Stochastic, MACD, CMF etc. What is of importance is adding in the Timeline cycles.
From the above, we can make a projection of the market to future possible scenarios. And in this example, it is deduced that this market will continue to be bearish till May 2025.
PBBank long @ around Rm4.20. 9/May/22.Public Bank possible having a pullback toward wave e (green circled) of a triangle in wave 4 (yellow) where’s price could stalled at around Rm4.20. Target profit would be around Rm10..
PUBLIC BANKPublic Bank (1295) formed a higher highs and higher lows since Dec 2021. Besides that, prices recently breached the RM4.59 level (red highlighted line). Its EMA10-EMA20 also in golden cross. Hence these price actions and indicator suggest further upside for Public Bank. to-date. Upside resistance are RM4.81 and RM4.97, both levels are Fibonacci Extension’s 1.272 and 1.618 levels, derived from low of RM4.25 and recent high of RM4.695. Downside support is RM4.40. Traders need to be aware of this level as a break below the said level could trigger strong downside pressure.
PBBANK maybe need to close the gap @ ≈3.73. 3/Dec/21Public Bank ( PBBank) possible is still forming its expanding wave pattern ABC (yellow) in wave (B)(cyan) where price could only completed its bearish correction in overall bullish content at around RM3.73 which are : - 1) Gap Filling 2) Monthly Demand Zone 3) The Support line of the expanding ending diagonal pattern i, ii, iii, iv, v ( Green Circled)..
If 3.910 Hold, PBBANK may Done correction. 12/Nov/211)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
PBBANK down to around RM 3.745 ?! 11/Nov/21P/s. To have more "consistent" Elliot Wave Counts.. Unlike Text Book written Elliot Wave Theory :- There is 5 sub-waves in any Impulsive Waves .. Traders are advised to label ONLY a-b-c 3 Sub-waves on ANY Impulsive Waves...
PBBANK may just done wave D(yellow). 21/10/21PBBANK may completed wave D ( Yellow) of Bullish Triangle Pattern while waiting for Malaysia Budget 2022 Dated on 29/)ct/2021. Price of Public Bank may retrace back just below Rm4.00 before resuming its up trend..
PBBANK wave E (yellow) triangle may reached. 22/9/21PBBANK possible reach wave E (yellow) soon of the triangle pattern as price now at the confluence zone of 1) POC ( Point of Control)(Red Horizontal Line) of the volume/market Profile *Most Buyers Spent Time/Price Zone" = Very Strong Support Zone ..as superimposed image inside the chart .. 2)Price now also at 233 EMA (Deviation) (2 white EMA lines)
PBBANK still triangle. Maybe 3.93 is the "Fair Value"? 18/9/21PUBLIC Bank back to triangle idea. Price probably on last leg down to wave E (yellow). Where price could resuming its uptrend at around RM3.93
PBBANK instead of triangle it's expanding flat. 30/8/21PBBANK Stock price have broken the down trend line of descending wedge pattern (Red dashed line) . Probably Completed an expanding flat pattern (ABC yellow) instead of bullish triangle pattern..
PBBANK - Fill the gap at 3.75?PBBANK - Fill the gap at 3.75? drop below MA200 & no buy force come in
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Will this support line effected?CCI and RSI indicators are both over brought now. Will the support line strong enough to hold this down trend and pumps up again? MYR4.000 is the key!
PBBank possible forming Bullish descending triangle. 17/7/21.Public Bank Price Seem ranging above 4.00 and may form a bullish descending triangle . Price Could hovering around RM4.00 again at wave E (Yellow) of triangle before resuming its uptrend toward above Rm6.00..
PUBLIC BANK possible retrace back to ≈ 3.60. 26/6/21....PUBLIC Bank price possible having a pullback toward around RM3.60 that is about -14% from current Price Closed level : Rm4.19 before resuming its uptrend toward around RM8.35 . where there is a confluence of 1) Up Trend Line Support Since March 2020 low ...2) Next Major Demand Zone ....
PBBANK: Volatility narrowing significantly. Big move comingSince bank shares rallied in Nov and Dec 2020, PBBANK has been trading sideways for the past 6 months. Despite constant selling by EPF, the share price has sustained above RM4
Bollinger band and volatility has narrowed significantly over the past 6 months, especially in the past 4 weeks.
1st band: 14%
2nd band: 11%
3rd band: 9%
4th band: 3%
5th band: 2.5%
6th band: 2%
Expect a big move soon.
Public Bank VCP DevelopmentPublic Bank is forming VCP with below contraction:
C1: 12%
C2: 10%
C3: 9%
C4: 3%
C5: 2%
27 May is the first low risk entry point with good fundamental + dividend support.
Still in good development!
The content provided is my personal experience sharing through technical and fundamental analysis point of view. The content can only be used for education purposes and NOT any recommendation for buying or selling stock. Please ask your remiser/dealer for making decision. Trade at Your Own Risk.
