Weekly chart look very promising, entry price look like somewhere around 0.790 - 0.800, eventough price is under MA200, the price may in the beginning of inclination propelled by vaccine news, likely the resistance would be in 1.000, and support is 0.680.
Corporate Name : MAH SING GROUP BERHAD
Symbol & Code : MAHSING (8583)
Board : MAIN
Shariah : Compliant
Sector : Property
Sub-Sector : Property
• Weekly: Price breaks out when 20ma crosses 50ma. Now it is making higher low exactly on 20ma and major trend line.
• Daily : Daily chart does not look too convincing with price keeps breaking below 20ma lines and now...
The trend is your friend. The rainbow average is your guidance angel. If the price is trading above the rainbow, the star is rising. No chart can predict the price direction so buy and sell at your own risk as market conditions can change at anytime without warning.
WEEKLY
We might see a downtrend here, MACD has shown indication of a sell
This might be true because the Bulls are losing their STEAM !
MahSing might drop to a greater demand zone at 70 cents
Weekly timeframe has a stronger implication on the candles, the market is indecisive on where mahsing should go
Watch if 90cent is sustainable this upcoming week, If...
MAHSING break closed back above 0.90. but meet resistance 0.955-0.96
overall still seeing potential upsides.. as long as 0.875 holds.
break above 0.96 can go to rm1.00 to fill the gap.
BASED ON PRICE ACTION, I'M EXPECTING MAHSING TO REACH 1.47 IN MID-TERM ( 1:1 FIBO). NICE RISK REWARD RATIO WITH STOPLOSS @ 0.85.
TRADE@ YOUR OWN RISK (TAYOR!)
MAHSING completed Wave 4 @ 0.86, and its making its way for Wave 5, if moving within the parallel channel, could end up at around 1.87.
A good entry would be a breakout resistance 1.04, with support zone of 0.86-0.91, and Resistance of 1.26 (RRR 1:2), 1.44 (RRR 1:3.4)
Volume is still good, but not good enough to push it higher at the moment. Banker chip is > 50%...
HHHL
Y1> WHOG@1?
fibo hit up & down
even though it is a strong uptrend, there is NO power up.
both WHOG is at the upper floor too. second WHOG is at level 1 if ignore the long candle wick.
W&R; down. the chances of Mahsing breaking previous high is low.
no TP yet.
LT
HHHL + Y1> BHOG @ 1
fake strong downtrend
TP @ 0.055
ST
LLLH + Y1<Y2
got power down
BHOG @ 3
rolling stone if W&R; success
TP @ 0.580
Even though it is a fake strong downtrend in LT, there is no significant indicator that it will reverse up. Unless the W&R; bullish @ 0.630 succeed, or next wave make a HHHL.
