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SUPERMAX CORPORATION BHDSUPERMAX CORPORATION BHDSUPERMAX CORPORATION BHD

SUPERMAX CORPORATION BHD

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SUPERMX trade ideas

SUPERMX - Selldown Pressure Over, Time to rev up to the MAXEntry Strategy: 1) Entry inside the purple line range - Highly potential reversal trend zone. 2) CL1 and CL2 below the purple line. Chart: 1) 2020 - Glittering news for glove stock due to unprecedented demand. During this time people risk in on forecast profit growth anticipated. 2) As per expected, whatever boom up need to boom down also - nature of life (kadang2 kita di bawah kadang2 kita diatas) 3) For QR result announcement - people that risk in before will usually sell on news 4) Below EMA line - showing bearish trend start to power the play I am nubis, i am non-premium members ..follow if you think this idea make sense..just sit back, relax and make some money. -Heil_Z- # Are-snuff Traders Club # Bilis Traders Group
MYX:SUPERMXLong
by Heil_Z
1
Has Supermax bottomed? Or are we seeing HOPE yet?Can we start to hope for further upside in Supermax? I would answer yes if Supermax can find strong support at RM 6.70 and start to break and close above RM 7.50. I think the right question to ask right now is has Supermax bottomed? From chart perspective wise, I believe Supermax has not bottomed yet and we could likely see further downside pressure if it breaks and closes below RM 6.60. RM 6.60 is a very crucial level now that the bulls must protect. A failure at this level, could see Supermax retest RM 5.80 level again which is also current daily 200 moving average. Therefore short term wise, I am not bullish on Supermax until it breaks and closes above RM 7.50 again. Further to this, if bulls fail to also protect RM 5.80 level if it is being retested, it could send Supermax downward some more to around RM 4 range as this range is also the 62% to 78% Fibonacci Retracement level according to the march dip and august peak. Therefore now bulls must strongly protect RM 6.70 level and pushes it up further above RM 7.50 or else bears will have control at this territory. To support further on the argument of Supermax has not reached its bottom yet, we can study it from the Elliot's wave theory of corrective move ABC. ABC talks above the trend reversal. Early to mid of this year we saw a strong uptrend momentum on Supermax. However in August we started to see a trend reversal for Supermax. This trend reversal can be read as ABC. A wave in this scenario will trend down which took place on 7th Aug in sending down its price from RM11.95 to RM5.55, creating a downward pressure RM 6.40. Then B wave took place in driving up the price to RM 10.65 on 20th October. So how far the next C wave can send Supermax down? The answer is gotten by substracting RM 6.40 from RM 10.65 which will give us RM 4.25. With this, we can believe a further downside pressure could send Supermax down to RM4.25. In all circumstances, there is always hope, lets hope Supermax to quickly breaks and closes above RM 7.50! Cheers and bye for now! Merry X'mas to everyone! God bless!
MYX:SUPERMX
by livegreat
4
Supermx continue to holdBoD signal on 23 Sep, BoB on 2 Oct. There are no Fast Turtle Sell since then. Staying above psychological level 10 is a very strong statement from Mr BULL. FiFT is +ve, Banker's chip >75%. Price is moving above EMA20 and above ATOM river which mean Bull is running on highway. Every small pullback is with small volume. This is a very healthy bull. The rally is mimicking beginning of July rally. Currently there's no sell signal. Fast Turtle Sell will appear if price close below 10.2. I believe supermx is able to break above 11 (based on current momentum and strong sector).. Next is 11.5 and 12.
MYX:SUPERMX
by kgiap123
14