*22 June Technical Idea*
LUXCHEM CORPORATION BHD (Stock code: 5143)
After new high created in 1st Jun with huge volume, we see that share price drop back to demand zone, long bias.
we see that share price react at zone last trading day and form revert candle pattern today, entry signal.
we are waiting share price break 0.755 last high for a solid confirmation.
if share price can break last high, we are confidence it will try to test 0.880 level,
if share price drop below 0.665 which break the support we will consider share price will will drop to 0.615 level to find it base.
*Risk: Moderate Risk*
*TP1: RM0.880*
*TP2: RM1.00*
*SL1: RM0.665*
*SL2: RM0.615*
*Risk Return Ratio:1.39x*
Strategy:
1)This was a limit trade to wait the momentum and buy flow come.
2)Aggressive trade can follow the momentum to break resistance
LUXCHEM CORPORATION BHD (Stock code: 5143)
After new high created in 1st Jun with huge volume, we see that share price drop back to demand zone, long bias.
we see that share price react at zone last trading day and form revert candle pattern today, entry signal.
we are waiting share price break 0.755 last high for a solid confirmation.
if share price can break last high, we are confidence it will try to test 0.880 level,
if share price drop below 0.665 which break the support we will consider share price will will drop to 0.615 level to find it base.
*Risk: Moderate Risk*
*TP1: RM0.880*
*TP2: RM1.00*
*SL1: RM0.665*
*SL2: RM0.615*
*Risk Return Ratio:1.39x*
Strategy:
1)This was a limit trade to wait the momentum and buy flow come.
2)Aggressive trade can follow the momentum to break resistance