Sedania completed Inverse Head & Shoulder patternSedania were a company provide Airtime & Data Peer-to-Peer Transfer Platform for Celcom Axiata Bhd and Maxis Bhd in Malaysia and Robi Axiata in Bangladesh back in 2017, and now they had expand into Fintech, Sustainable Energy and Healthcare.
Looking at their QR revenue was below Rm 8M until year 2020. But their last 4Q revenue had increased significantly. Perhaps from their merger & acquisition. Proving their business plan is good.
On chart pattern wise, a complete formation of inversed head & shoulder patter which is a bullish pattern had formed. If this pattern play out, it may reach to 0.235 (3rd resistant). As long as it stay in current price channel (white line) the upward momentum will keep intact.
Currently:
Resistant 1: 0.200. Support 1: 0.195
Resistant 2: 0.220. Support 2: 0.185
Resistant 3: 0.235. Support 3: 0.180
Breakout from 0.235 may fuel the bulls further to above 0.300.
Disclaimer:
This is nota Buy / Sell call. This material is for learning purposes only.
Consult your financial advisor and trade at your own risk.
