Public Bank Stock Price just stalled @ all time long term up trend line ( cyan) support. Its Price could reach @ 6.800 +/- ( a potential of 72.15% growth from current 3.950 ) before a deep pullback.
This is a Malaysian Stock (Public Bank) spanning 32 years. This is a monthly chart.
The future price and time projection is based on
a) Elliott Wave Theory
b) Fibonacci Retracement
c) Fibonacci Trend Based Timeline
d) Andrew Pitchfork
e) Gann Fan.
PBBank. Look like we have A VCP chart pattern. A chart pattern “refined” by famous Mark Minervini ( US 1997, 2021 investing championship winner) which got inspired by William J. O’Neil defined “Cup and handle” pattern..p/s or anything “chart pattern” you have “discovered/defined “? Making it “famous”?...Also the “cup & handle / VCP” pattern “closed” to 1 of...
Sign of Weakness:
1. Bearish Signal
2. Sell-Off bar with increasing volume
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
This is an example of looking at a market from multiple angles.
And it is important to do so, also.
In this market analysis, I used Trendlines with specific tool Fibonacci Channels, Andrew Pitchfork.
There are a few common indicators used e.g. Stochastic, MACD, CMF etc. What is of importance is adding in the Timeline cycles.
From the above, we can make a...
Public Bank possible having a pullback toward wave e (green circled) of a triangle in wave 4 (yellow) where’s price could stalled at around Rm4.20. Target profit would be around Rm10..
Public Bank (1295) formed a higher highs and higher lows since Dec 2021. Besides that, prices recently breached the RM4.59 level (red highlighted line). Its EMA10-EMA20 also in golden cross. Hence these price actions and indicator suggest further upside for Public Bank. to-date. Upside resistance are RM4.81 and RM4.97, both levels are Fibonacci Extension’s 1.272...
Public Bank ( PBBank) possible is still forming its expanding wave pattern ABC (yellow) in wave (B)(cyan) where price could only completed its bearish correction in overall bullish content at around RM3.73 which are : - 1) Gap Filling 2) Monthly Demand Zone 3) The Support line of the expanding ending diagonal pattern i, ii, iii, iv, v ( Green Circled)..
1)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
P/s. To have more "consistent" Elliot Wave Counts.. Unlike Text Book written Elliot Wave Theory :- There is 5 sub-waves in any Impulsive Waves .. Traders are advised to label ONLY a-b-c 3 Sub-waves on ANY Impulsive Waves...
PBBANK may completed wave D ( Yellow) of Bullish Triangle Pattern while waiting for Malaysia Budget 2022 Dated on 29/)ct/2021. Price of Public Bank may retrace back just below Rm4.00 before resuming its up trend..
PBBANK possible reach wave E (yellow) soon of the triangle pattern as price now at the confluence zone of 1) POC ( Point of Control)(Red Horizontal Line) of the volume/market Profile *Most Buyers Spent Time/Price Zone" = Very Strong Support Zone ..as superimposed image inside the chart .. 2)Price now also at 233 EMA (Deviation) (2 white EMA lines)
PBBANK Stock price have broken the down trend line of descending wedge pattern (Red dashed line) . Probably Completed an expanding flat pattern (ABC yellow) instead of bullish triangle pattern..
PBBANK - Fill the gap at 3.75? drop below MA200 & no buy force come in
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Public Bank Price Seem ranging above 4.00 and may form a bullish descending triangle . Price Could hovering around RM4.00 again at wave E (Yellow) of triangle before resuming its uptrend toward above Rm6.00..
