PGLOBE - Analysis on price movementN wave with NT & N projection.
The current price is at MYR 0.315, which is just above the Kumo. The price recently tested the Senkou span B, finding support at this level. This positioning suggests a neutral to slightly bullish outlook, with the potential for a rebound if the price continues to stay above the Kumo.
The Kumo is bullish ahead, albeit thin, indicating that while there may be a slight upward momentum, it’s not strongly supported. The cloud's future projection is bullish, providing some room for the price to move upwards.
R1 - 0.33 (Senkou span B)
R2 - 0.340
R3 - 0.42 (52w high)
S1 - 0.305
S2 - 0.290 (Senkou span B)
Require a strong bullish move to break all the resistance levels to reach the target.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
PGLOBE trade ideas
PARAGON GLOBE BERHADParagon Globe Berhad
Trend: The overall trend appears bullish, with the price moving from around 0.160 in June 2023 to current levels around 0.290.
Support and Resistance:
Key support levels seem to be around 0.240-0.250.
Resistance appears to be around 0.320-0.340.
Moving Averages: Two moving averages are visible (likely short-term and long-term). The price is currently above both, indicating bullish momentum.
Volume: There are sporadic volume spikes, with recent increased activity, suggesting growing interest in the stock.
Price Action:
Strong upward move from June to August 2023.
Consolidation from September 2023 to February 2024.
Another upward trend from March 2024 onwards, with increased volatility.
Recent Performance: The stock has shown significant strength in the past few months, with a sharp rise in May-June 2024.
Volatility: Increased volatility is evident in recent months, with larger candlesticks and price swings.
Indicators: The chart includes what appears to be a Bollinger Band indicator, showing periods of expansion and contraction that align with price movements.
Overall, the technical picture appears bullish, but the stock may be approaching overbought levels in the short term. Traders might look for pullbacks to support levels for potential entry points.
PGLOBE, Uptrend based on AlgoSignal StrategyThe current point exhibits promising upward signals according to my algorithmic system, meeting various criteria. These include rising trading volume, an upward trend indicated by prices above EMA20 and EMA50, and the closing price surpassing VWAP. As a result, the present conditions suggest a potential upward trend.
