>> base on 1h, it may continue to pullback
>> 565 area for potential rebound, if price above to support.
Let see how it work.
When a stock / index has gone up substantially, we must be more care if we decide to get involve in it...
monitor closely and be agile....
we cannot PREDICT what definitely will happen ~ we can only RESPONSE to what we see!
Disclaimer:...
Very obvious it's a downtrend stock.
Some afraid of catching the falling knife.
However, base on :
>> weekly chart, it show a potential rebound as long as the price stay above 510 and brake above 530.
>> day chart, it may slightly retrace. Best is stay above blue cloud ☁️ EMA. Let it form an upstair staircase.
Overall, operator yet push this counter. Mostly...
SAMCHEM is it Ready for Departure this third time around?
Station 1.06 gonna could be a tough call! However with the in-coming results...will it make the difference?
Disclaimer: The chart shared here, attracts the writer's attention. It is author's view...and there is no guarantee on the movement of the asset price in the future. Any investment decision you...
VCP in making for Samchem?
Possible trading strategy
1. Bottom trendline can be good entry point as long as price moving in between the triangle.
2. Breaking out above VCP triangle potential major uptrend coming.
Cautious
1. Breaking below triangle should consider for first signal cut lose while waiting further long term trend.
Trade at your own risk....
Sign of Strength in the chart:
1. VCP Setup with no Sign of Distribution
2. Potential CoC
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
Our BMS technical chart detected Signal 2 bullish signal and we see potential to revisit near term resistance TP at 0.930. Immediate support at 0.780.
Once breakout XMA3 at 0.840 and with support of volume price will move higher.
Can study and monitor SAMCHEM's chart pattern. From 0.650 swing low on 5 August 2021 to a swing high of 1.070 (ie 52wh) on 25 October 2021, SAMCHEM retraced to 0.770 which is in-between fibo786 and 618 levels. At present, SAMCHEM's price has crossed EMA200 and fibo618. Probable EP would be 0.820 to retest a yearly pivot and probable TP would be at 0.950, that is,...
Price able to closed at previous high RM0.92
Really good market sentiment last Friday.
Company making higher revenue.
Keep monitor for proper entry-point
Bull trend is on going, each reversal also can be rebound at MA20.
0.92 is the entry point with high volume.
Resistance line 1 & 2 is respectively 0.975 and 1.03, taking profit will be observed if it could break out resistance lines.
MACD and Stochastic also appeared "golden cross"...
Introduction to SAMCHEM
SAMCHEM's core business is the distribution of chemicals to over 7000 clients in various industries that would benefit from the global economic recovery.
SAMCHEM’s distributed product mix are:
Polyurethane(PU): mattresses, car seats
intermediate chemicals used in manufacturing, construction, agricultural, adhesives, industrial cleaning,...
After 3 months of consolidation, SAMCHEM is waking up and ROARING to start its new multi month BULL WAVE.
Its technical signals are all pointing towards a bullish uptrend that one should not miss out on.
For this posting, I will just focus on the technical aspects of the stock.
For the fundamentals of SAMCHEM, see previous posting dated 5th Jul 2021, titled ...
sector : trading and services.Fundamentally top notch.Increasing QOQ 4quarters consecutively and increase YOY.Supported with institutional holder.Latest director share purchased was last week.Technically just broke up pivot point of VCP setup.
One of my few favourite stocks forming rounding bottom with Cup & Handle. Projected to breach ATH resistance at 1.530.
Support at 1.455.
Disclaimer: Trade at your own risk.
![SAMCHEM: MULTI MONTH UPTREND, JUST BEGINNING [SAMCHEM]](https://s3.tradingview.com/k/kgxsZDyn_mid.png "MULTI MONTH UPTREND, JUST BEGINNING [SAMCHEM]")
