Technical analysis for MICROLN Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- Overall trend still maintaining the long term UTL with highest VAP 0.440 as strong support.
- Current price candle trend had retracement and maintain at Fibo 0.36 area indicate the prior uptrend will continue. Current price candle trend moves in shorter range with below than average volume with highest VAP 0.600-0.625 indicate accumulation phase occur .
- Latest OCT 21 monthly candle show a short body with upper and lower wick accompany by low volume signal indecision-reversal may occur. It may indicate Pivot low.
2) In Weekly TF
- Overall trend still maintaining the immediate support line and Descending Triangle pattern with highest VAP 0.440 as strong support.
- Current price candle trend moves in shorter range with low volume with highest VAP 0.610-0.655 indicate accumulation phase occur. Pivot high and Pivot low can be seen clearly in this TF.
- Latest 1 Nov 21 Weekly candle show a very short body with upper and lower wick accompany by very low volume signal market in congestion. This may indicate Pivot low.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and Descending Triangle pattern with highest VAP 0.655 as strong resistance.
- Current price candle trend staying in Fibo 0.36 area indicate the prior uptrend will continue. Current price candle in long congestion period with price candle move in short range with low volume indicate accumulation phase occur with highest VAP 0.645-0.655 as immediate resistance .
- Latest 5 Nov 21 daily candle give a Hammer candle with low volume indicate market build up the strength and momentum in slow and steady manner.
1) In Monthly TF
- Overall trend still maintaining the long term UTL with highest VAP 0.440 as strong support.
- Current price candle trend had retracement and maintain at Fibo 0.36 area indicate the prior uptrend will continue. Current price candle trend moves in shorter range with below than average volume with highest VAP 0.600-0.625 indicate accumulation phase occur .
- Latest OCT 21 monthly candle show a short body with upper and lower wick accompany by low volume signal indecision-reversal may occur. It may indicate Pivot low.
2) In Weekly TF
- Overall trend still maintaining the immediate support line and Descending Triangle pattern with highest VAP 0.440 as strong support.
- Current price candle trend moves in shorter range with low volume with highest VAP 0.610-0.655 indicate accumulation phase occur. Pivot high and Pivot low can be seen clearly in this TF.
- Latest 1 Nov 21 Weekly candle show a very short body with upper and lower wick accompany by very low volume signal market in congestion. This may indicate Pivot low.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and Descending Triangle pattern with highest VAP 0.655 as strong resistance.
- Current price candle trend staying in Fibo 0.36 area indicate the prior uptrend will continue. Current price candle in long congestion period with price candle move in short range with low volume indicate accumulation phase occur with highest VAP 0.645-0.655 as immediate resistance .
- Latest 5 Nov 21 daily candle give a Hammer candle with low volume indicate market build up the strength and momentum in slow and steady manner.
Comment:
Latest price candle still maintaining the support zone. Critical to observe the price action at this support zone.