A speculative play - Medtechs InternationalWithin 2 days of the new variant , OMICRON virus being spotted , the news splashes everywhere. Here , in the Stock market, some stocks are raking in abnormal returns on this piece of news.
Meddtecs International which makes personal protective equipment soared more than 80% within the last 2 days .It has now retreated to 0.415 level and if more bad news, rumours start to fly or more cases of people contracting OMICRON or death ensues, then , we can expect this stock to continue climbing......
546 trade ideas
MEDTECS SGX SELL/SHORT to 0.20-0.60 before BIG BUY! (UPDATE)TICKER CODE: 546
Company Name: Medtecs International Corporation Limited
Industry: Medical Instruments & Supplies | Singapore
Proposed Position: Sell
Technical Analysis
1. Downwards Flag Pattern (Forming)
2. Downwards Fibonacci Retracement at 0.618
3. The market will more likely impulse downwards to test key levels before rising up
4. The flagpole take profit price range is on the market key levels
Safe Exit: 1.25
1st Buy Entry: 0.60
2nd Buy Entry: 0.45
3rd Buy Entry: 0.20 - The market may test to this level (I doubt it will but it could)
1st Partial Take Profit: 2.40
2nd Partial Take Profit: 3.60
Stop Loss: 0.17
Again, I apologise to all my followers for the previous analysis. Please review and revert to this analysis and signals. As I did not consider and account for the downwards impulse and pullback! 🙇♂️🙇♂️
MEDTECS SGX BUY/LONG 1.15 to 2.65 by end 2021TICKER CODE: 546
Company Name: Medtecs International Corporation Limited
Industry: Medical Instruments & Supplies | Singapore
Technical Analysis
1. Large Pennant Pattern Broke out and retested already
2. Fibonacci Retracement at 0.618
3. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
Entry: Already Active (0.90-1.15)
1st Partial Take Profit: 2.65 (May consider full exit here)
2nd Take Profit: 3.80 (The market may not reach here as there is not enough historical data to project)
Stop Loss: 0.45
EXPECTED Take Profit in September - December 2021
MEDTECS SGX BUY/LONG 1.15 to 2.65 by end 2021TICKER CODE: 546
Company Name: Medtecs International Corporation Limited
Industry: Medical Instruments & Supplies | Singapore
Technical Analysis
1. Large Pennant Pattern Broke out and retested already
2. Fibonacci Retracement at 0.618
3. Fibonacci Expansion Safe Take Profit Level 1 (Grey Zone) Also the length of Flagpole
Entry: Already Active (0.90-1.15)
1st Partial Take Profit: 2.65 (May consider full exit here)
2nd Take Profit: 3.80 (The market may not reach here as there is not enough historical data to project)
EXPECTED Take Profit in September - December 2021