CMSB
After this few days of minor crash on penny stock, CMSB also been affected.
It also been affected by the news of Norges Bank ceased to be substantial share holder on 12 Jan 2024. However, personally I think it will not affect the fundamental of the company.
Technical wise, it as mentioned earlier, RM1.18 is a key resistant level that had been tested 4 times...
Those who consider Mircrolink need to becareful...
Earlier Triangle Breakout not enough momentum & strenght to push up the price.
It look like creating a Rising Wedge Pattern (bearish) ....
Hope the result and also the new will move up and break the wedge pattern tomorrow...
Otherwise, Microlink may U-Turn.... Dangerous Dangerous!!!
It look like public Bank in the Reversal
From last Feb 2019, it start drop
And the downtrend is resisted by 50EMA (Expontetial Moving Avereage)
And last March 2020, it V-shape rebound and break above 50EMA
And create a "higher high" (2 times) & "higher low" (2 times).
if coming week, it trade high, not break down to the lower trendline (Blue) then, it confirm...
This is DPharma H1 Timeframe Chart, the price is supported by the 50EMA.
It created a "Rounded Bottom" or "Cup & Handle" Pattern
It is a bullish continous pattern, If breakout, It may shoot up to 3.90 level.
Today it creat a Flagpole Pattern in the end of the trading day.
Looking at the setup, SCGM may either trade with:
1- Strong momentum to Breakout the Flag Pattern
2- Strong Trend- Break to 32.8% then only continue the trade
3- Condolidation
4- Strong Pull Back break below RM2.75
What will be your take?
