Based on weekly chart, the price start to moves up from the oversold region as well as from MA50. Not only that, the price breakout today (6 June 2023) with a large volume. It will be good if the price can breakout from MA20 and forming a higher low (on weekly chart).
Comment:
Today, the price reached the 1st target (MYR 0.825) and break above MA20 and MA50 on weekly chart. Now, we need to see how it close for this week.
Trade active:
Today, the price close at resistance RM0.835 with large volume. This is a good sign. Now, the next resistance is at RM0.88. But, we should collect some first as the first TP already achieved (RM0.825).
Comment:
Today, the price closed at RM0.855 with a green Doji candle. Then, a new support line is at RM0.835. In addition, the stock still at stage 1 cycle. The stock need to break and maintain above RM0.97 in order to enter stage 2.
Trade closed: target reached:
Today, the price break new TP which is RM0.88 and closed at RM0.92 with huge volume.