PDZ trade ideas
PROPOSED JOINT VENTURE AGREEMENT BETWEEN PDZ AND SANICHI TECHNOLI just make a simple technical analysis on this.
As we can see in TF30M, TF4H, TF1D, TFW, all EMA6,20,50,200 are close with each other and trying to make a cross.
Sometimes we don't need to complicated our analysis.
Just a simple analysis and good news can make a big fortune.
Before that,
Pray to God to ease our way.
May God bless all of us.
#KitaJagaKita
PDZ: Consolidation Looks Set To ContinuePDZ has gathered quite some interest among traders, particularly recently during its short-lived but significant upward move which was probably catalysed by the company's announcement regarding a JV with MYX:SANICHI to develop an e-commerce logistics hub in Desaru, Johor.
News aside, we can see that PDZ moved in an interestingly discernible 5-Wave 'Minor' cycle starting from around the 0.040 level to as high as the 0.325 point and has so far retraced to as low as the 0.125 level which is about the 78.6 / 76.4 % Fibonacci retracement. Up to this moment, we have seen that the stock has moved in a 3-3-3 pattern of the A-B-C retracement waves. As of yesterday (Friday, 07/08/2020), the stochastic RSI lines have crossed in the "Oversold" area, which is a weak "Buy" signal, whereas CCI is still staying far into the negative territory (-64.09) which is a "Sell" signal. We also witnessed yesterday that the price failed to break through the 0.155 level which is the mid-BB point and my bet is that the stock may continue with its sideway movement and consolidate into a 3-3-3-3-3 pattern of the A-B-C-D-E triangular retracement waves (as per annotation). I will probably revisit PDZ when both the Stochastic RSI and CCI have started to give a marginally strong "Buy" signal if they were going to continue with the Wave (3) of the 'Intermediate' cycle. If the next uptrend is confirmed, then we shall see a very powerful upward move with TP1=0.585 with a further upside of TP2=0.870. Until then, don't expect this counter to move so far.
PDZ. Trading info for Farhan Hafiz.PDZ Holdings Bhd.an investment holding company, provides shipping logistic solutions.
It is engaged in the ownership and operation of sea-going vessels, as well as in the provision of shipping agency and related services.
The company has operations in Malaysia, Singapore, and Brunei.
PDZ Holdings was founded in 1989 and is based in Port Klang, Malaysia.
Sectors: Trading & Services, Oil Gas, Penny Stocks, Logistics, Transportation & Logistics
Stock highly correlated with
ASIAPLY (90%)
MQTECH (86%)
CNASIA (84%)
OVERSEA (83%)
TRADING IDEA
Resistance : 0.15
TP: 0.170
Support : 0.130
Stop Loss: 0.11
ESTIMATED TARGET PRICE FOR 2 WEEKS
31.07.2020
1 Week later : 0.130
2 Week later : 0.120
TECHNICAL ANALYSIS
Moving Average (Short Term)
SELL
Moving Average (Mid Term)
BUY
Moving Average (Long Term)
BUY
Ichimoku Kumo
BUY
Stochastic RSI
BUY
MACD
BUY (Above 0)
PDZ Long Trading PlanDisclaimer : This analysis is not meant for buy call, but personal trading idea log for reference.
Analysis is based on trendline and channel. Confirmation on our long position are based on RSI , Stoch , MACD and MCDX (indicator by @kgiap123).
PDZ is in uptrend and had a retracement from 14 - 21 July this is confirms by the channels, trendline drawn based on LL, LH, HL and HH indication on chart. Retracement on 13 July 2020 is noted based on the HH indicator thus a down trenline is drawn and monitor if there is any breakout in daily chart . Today 22 July a breakout happened at daily chart in the evening. The uptrend may continue tomorrow, and perhaps would break the RM0.210 resistance with good momentom shown in MCDX and good volume.
Confirmation of long position are based on:
- MACD crossed up.
- RSI > Stochastic
- MCDX that indicate smart money still high more than 50%.
