UEMS trade ideas
UEMS in wave 3Looking at the chart for UEM Sunrise Berhad, here's my analysis:
Current Price Action:
- Trading at RM1.16, up 9.43%
- Strong breakout from recent consolidation
- Price moving above all major moving averages
Elliott Wave Analysis:
- Completed waves I through IV
- Currently in early stages of wave V
- Wave V target projected at RM1.38 (1.618 Fibonacci level)
Key Technical Levels:
1. Support:
- Strong support at RM0.92 (wave IV low)
- Secondary support at RM1.05 (recent consolidation base)
- Moving averages providing dynamic support
2. Resistance:
- First resistance at RM1.29 (1.272 Fibonacci)
- Major resistance at RM1.57 (2.272 Fibonacci)
- Previous high around RM1.38 (1.618 Fibonacci)
Volume Analysis:
- September 2024: MYR25.914M (+124.51%)
- June 2024: MYR-105.723M (-245.80%)
- Recent volume spike supporting breakout move
Trading Considerations:
- Breakout confirmed with volume
- Stop loss could be placed below RM1.00
- Risk/reward favorable for wave V target
- Momentum indicators showing strong buying pressure
UEMS (5148) - PropertyUEMS - Current price : RM1.08
Fundamentally broker house RHB Investment BHD give a target price of RM1.60 (19 OCT 2024 reports). The research house expect demand for property will continue to be driven by :
i) Better economic growth outlook,
ii) Influx of foreign and domestic direct investments
iii) Return of tourist arrivals
iv) Easing of the Malaysia Second Home programme
v) Major instructure developments
Technically there is a Falling Window (Gap Down) on 01 Aug 2024. As such, it may acts as a strong resistance. A breakout above that Falling Window resistance level RM1.10, may propel the share price towards RM1.20 and RM1.28 (52 Weeks High).
Based on ICHIMOKU, price manage to trend higher above CLOUD and CHIKOU LINE crosses up the cloud. This two scenario added more the BULLISHNESS outlook for the stock.
Lets monitor closely !
A breakout above RM1.10 , will trigger a buy signal.
Entry price at RM1.11 and our support will be EMA 50.
Time Cycle Analysis: UEMSTime Cycle Analysis: UEMS NTA RM1.35 and the next key date to watch is May 03 2024 (RM1.10). Lawrence Wong will take over as Prime Minister of Singapore to replace Lee Hsien Loong on May 13 2024. As a new PM, his political strategies are expected to be more focused on internal economic developments rather than external development such as JS-SEZ.
Time Cycle Analysis: UEMSTime Cycle Analysis: UEMS above 0.89 is bullish, below 0.89 is bearish. On 8 April 2024, total solar eclipse will cross North America, passing over Mexico, the United States, and Canada which according to Chinese Ancient Culture, it will be associated with bad qi. Based on visual inspection, under base-case scenario the descending flight 5148 will touchdown around 18 April 2024 (RM1.07) and ready for takeoff or under worst-case scenario (i.e. US market crashed on 8 April 2024) flight 5148 will touchdown around 21 May 2024 (RM1.00) and ready to takeoff again. Bon voyage! Safe travels and may your journey be filled with beautiful moments.
Time Cycle Analysis: UEMSTime Cycle Analysis: April 8, 2024, total solar eclipse will cross North America, passing over Mexico, the United States, and Canada which according to Chinese Ancient Culture this day will associate with negative qi. UEMS next key dates are 18 April 18 2024 and May 17 2024. With NTA 1.35MYR so the upside should be limited.
Time Cycle Analysis: UEMSUEMS above 0.89 is bullish and below 0.89 is bearish. It is moving within forecasted orbit and the next key date should be around 30 April 2024 to 02 May 2024 but take note that tradingview chart will not factor in Bursa Holiday ahead of time so the key date may be varied but will be more accurate when the trading day is moving closer to the estimated time zone.
UEMS, potential trend continuation1. The price has recently shown a pattern of moving to higher highs and higher lows, and it is currently establishing a strong base of support above the 0.705 mark, which is higher than the previous low.
2.The occurrence of a substantial increase in trading volume at the 0.705 level indicates that the price might be able to sustain itself at this level.
3. Considering the current situation, the level at which the price is situated presents a low-risk opportunity, especially as it is close to the support level. This suggests that there may be a relatively stable trading environment, at least in the short term.
UEMS - Another rally ?Over the past week, the price has been undergoing a corrective phase following a significant rally of 44%, which was accompanied by a substantial surge in trading volume. The ideal entry point appears to be at RM 0.8, a level I like to refer to as the 'Golden Zone' within the Fibonacci retracement.
Uems - the beginning of trend ending? 🤔Broken the ema line which is not a good sign.
Looking for support around 490?
But it seems like just a butterfly 🦋 effect.
Maybe op for next counter rather than risk own capital.
Disclaimer: Mentioned stocks are solely based on own opinions for education and/or discussion purpose only. There's no buy and/or sell recommendation. Trading involve financial risk on your own. The author shall not be responsible for any losses or lost profits resulting from investment decisions based on the use of the information contained herein.