YONGTAI trade ideas
YONG TAI BERHAD (15-DECEMBER-2020)A bullish engulfing candlestick rebounded off 61.8% FR and 20-day EMA after a brief overbought correction. The price is expected to resume its upward movement as it is now above the rising combined 20,50&200-day EMA.
The bullishness of the trend is supported by positive momentum in MACD.
EP – 0.355
Next R/ TP:
• 0.45 (coincides with 61.8% FE) – take half profit first.
• 0.57 (coincides with 100% FE)
Support:
• 0.335 (38.2% retracement)
• 0.26 (61.8% retracement)
Risk and reward – 0.02: 0.095 which is 1:4.75
Hunter Speculation Vaksin Stock(Yongtai)Dear Trader,
Here some sharing base on current view(Candle+Mapping).
TP1 and TP2 base on Daily Fibo, By right,Tomorrow would be confirmation candle which is,IF the price move strongly beyond 0385 level then consider END of retracement and will continue uptrend towards Rm1,00 area in short term.
More or Less, buy on Rumors , SELL on News
All The BEST!!!
Just a good volume and popular for current market I try to figure out this stock and too much talking between all around telegram group and I found very good volume and very good support for 5 minits and suitable for intraday and btst trading. After profit in last week on SPSETIA,I looking for another stocks like YONGTAI and ARTRONIC. But Im aware of a GAP for YONGTAI, will look very carefulon price action for this stock.
YONGTAI - is it enough?In only 4 days, YONGTAI has climbed +156%. All indicators are oversold so we should be ready for a possible pullback.
H4 chart observed a very large cup (minus handle) pattern. If this is correct, the pullback could end around resistance zone (0.16-0.24) before making a reversal to complete the handle formation, and probably preparing for a larger breakout with TP 0.695 - but it won’t be easy with lots of resistance it needs to passed - so this is long term.
The best is to buy on dip, to avoid any bull trap along the way.
YONGTAI is a heavy stock with large float (44% float of 1040M shares), comparing to its sector competitor BCB (13% of 412M shares). This could be a potential friction for price movement during sector play.
TAYOR