AVI spotted in what appears to be an inverted head and shoulders formation in also a pattern that resembles that of a bearish bat harmonic. High risk high reward set-up. Catalyst is re-opening of the international border.
GOODLUCK TRADERS
TRADE AT YOUR OWN RISK !
“Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
#AVI pending breakout from triangle pattern. Hopefully the upcoming lockdown ease off for vaccinated individuals and increasing vaccination rates will be good catalysts for breakout.
Cup and handle formed in daily timeframe. Its have been rejected a few times at 0.105. A breakout will happen soon either upside or downside. Lets wait.
If you check the price in Bursa station, sell price at 0.125 already sold out. Next sell price is 0.130.
If tomorrow price open 0.130 and above, can try to buy.
TP around 0.180 (weekly EMA200)
(Just for research & learning)
Above Simple Moving Average 120 + big volume + a good candle + potential to break resistance area at 0.095-0.100 = smells some $$ here.
Succeeding in breaking those resistance area, next few Resistances are 0.110//0.135//0.150. Current firm support is now at 0.065.
#TAYOR!
AVI Berhad , historically on 25th may 2009 have shown to break pennant patern but it is a false Breakout (analising at volume is small less than 77K while average green candle breakout is 200 K)
If on 9th June 2020 Breakout 0.075 with volume 100 Mil can rally upwards.
Monitor RSI , currently in tghe region of 46% ( Neutral sentiment)
MA is good for 10 point
