WENTEL trade ideas
Wentel Engineering Holdings Bhd to Exit The Sideways RangeIn daily timeframe, price is currently trapped in the sideways/accumulation ranging from 0.305 to 0.335 since April 2024 with a low volume. Price also is holding up well above both the MA 20 and Ma 50. A weekly bull candle already taken out the long wick bearish candle showing that the bullish momentum still intact for short term period.
In lower timeframe H1, the internal structure price formed Higher High (HH) and Higher Low (HL) suggesting price is bullish.
To further validate the bullish movement, price must close above 0.345 as a sign of Change of Character (ChoCh).
A break below 0.305 will negate the bullish movement in H1 signaling correction still in progress while 0.285 will be the last defense.
