JF Technology Berhad, which was incorporated on 29 April 1999, with the primary aim of servicing the manufacturing industry and also to handle trading of electronic products and components. It started off with its maiden product which was the Single Pin Cantilever Test Probe, and further continued into becoming an independent OEM manufacturer.
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JFTECH
Rst: 5.00
Spp: 4.80
Got its weaker formation being rejected today, meaning you can re-enter. For me, the stronger confirmation is when it breaks pennant formation (refer to chart).
Good momentum found on JFTech, which has been in successful rally after the price plummeted on March. The share found resistance at Fibonacci 2.618 coincides Negative divergence found on MACD histogram on July and later successfully breached both flag and Symmetrical Triangle, hit Fibonacci level at 3.618. Our view is still bullish with both EMA10 and EMA50 still...
Now it is in correction due to profit taking pressure.
Watch out if the confirmation level 4.50 is broken for further uptrend, else we will see at 4.00 support to enter.
MYX:JFTECH
SWING: 2 DAYS TO 2 WEEKS
Breakout Downtrend Line
52 Weeks High Line
Fibbonaci Retracement
Candlestick Support & Resistant Zone
Trendline Support & Resistant
Question you need to ask yourself :-
1) Is it UPTREND ? ema 20 > ema 50
2) Is it BULLISH ? price > ema 50
3) Is it STRONG BULL ? fift positive
If yes,
4) Where is your Support and Stop Loss ? 3.8
5) Where is your Entry Point ? wait til 4.3
6) What is the % risk (Stop Loss - Entry Point)/Entry Point 11%
7) Can you take this N% risk ? yes
8) you got a setup if...
JFTECH has been trading above its upward sloping 20-Day Moving Average which is a good sign.
It is important to calculate the risk/reward as the recent upward movement has pushed the price to be quite far from the support level of 2.89.
Resistance 1 : 3.65 (3.74%)
Resistance 2 : 3.7
Support 1 : 2.89 (-17.81%)
Support 2 : 2.83
Descending Triangle prediction at 21...
![JFTECH: JFTECH [27 October 2020] Buy On Dip in Support Zone](https://s3.tradingview.com/f/fuOBQGKH_mid.png "JFTECH [27 October 2020] Buy On Dip in Support Zone")
