This is Accumulation of Rising Bottom (#2 )
Supply drying up, Demand going in (Red Arrow)
-it seems that absroption is on going
-typical of Springboard in action
Thus position initiated as attached
Short swing
Pure Wyckoff
3 consecutively quarter report increasing sales and profit.Currently forming VCP setup.Wait till price shoot up,break above horizontal line in high volume to confirm setup.
Technical Analysis
Price maintain above MA50
Small triangle is formed.
MACD not yet buy signal.
RSI is above 50 show some strength in the price.
ADX is not yet buy signal.
Trading plan:
MYX:TAANN
Buy price: 3.400 - 3.420
Cut loss price: 3.260 and below
Cut loss percentage: below 5%
Possible take profit: 4.270
Risk to reward: 5.31
Notes:
The...
1. TR Setup at daily. Touches MA, and Hammer CS formed at RBS. Broke the next day.
2. Weekly downtrend but just broke 200 EMA.
3. Crawls deeper to form RRR 1:4 (TBA). SL below RBS.
4. Bursa Marketplace rating 10. Kenanga Research TP 3.45 (11 Jan 2021)
Taann looks ready
Close: 3.04
EP: 2.97 - 3.10
Sl: 2.76/2.67
TP: 3.15/3.32/ 3.43/open
Disclaimer: This study does not constitutes Buy/Sell per say. Please consult your financial advisor before making any trading/investing decision.
Sector : Plantation.
FiFT Turned +ve
ATOM Neutral/Green Priceline.
Need to break above 3 to expose 3.5 target
SL elow 2.6 depend on your risk tolerant.
TAANN, profitable company, has broken short term downtrendline, while RSI is heading into the bullish region 50%. potential price will attempt R1 while RSI is above 50%. If price break above R1, there is potential to reach R2 with sustained momentum. take regular profits, preferably at 50% and 78% from target.
If price failed to break R1, possible it will test...
