The price candlestick indicates an accumulation pattern where the price moves in a sideways range for an extended period before attempting to break out the upper line of the price channel. With the result in volume exceeded the MA line.
MACD and RSI indicators indicate a positive momentum and are aligned with the price candlestick.
Let's save MFLOUR in WL and...
MFLOUR I first share on 13th Jan seeing this stock entering stage 2 with huge volume since end 2022. Then i shared on 30th Jan on observing short base VCP setup. (link on previous 2 articles in below)
The VCP base continue to develop and recently pull back deep to form a C2.
It might form another C3 before take off. (Based on VCP experience so far)
Keep an eye...
MFLOUR I shared on 13 Jan and updated the progress in the earlier post. Short based VCP observed!
C1: 14%
C2: -6%
C3: -3%
Might have another round of contraction or might breakout and pull back. Depend on how the fund operators want to execute.
Let's wait and see.
Disclaimer:
Information presented here is not intended to be used as the sole basis of any...
MFLOUR i traded back then in Jan 2021. Exact date will be 18 Jan 2021 when the chart setting up VCP. The trade went pretty good profit ~30%+
The chart after that went to Stage 4 downtrend since Feb 2021 till Nov 2022 (which is 600 days+). During this period of time, it is not appearing in the screener at all.
End Nov 2022, volume and price both kick in and the...
Sign of Strength in the chart:
1. Accumulation stage
2. Shakeout Pattern
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
Mflour - break up done, Up trend may continue
VT Stock indicator is a stock breakout trend indicator for identifying the change of Mid to long term trend direction
(Disclaimer: for demonstrating own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
Price has broken above a double bottom back in Jan 2021, and price has throwback to the BO line with decreasing volume, culminating with a false breakdown. MFLOUR is currently at the BO retracement price level indicating a good value for potential upside. Although this double bottom BO with strong price and volume, however the BO came amid long and slow build up -...
The Fibonacci chart (FIBO) indicates MFLOUR is in a re-bounce pattern where it will test resistance at 0.86. MA20 likely will be cross up EMA50 when buying interest is high and have a significant price movement with volume to support the price increase. MA20 and OBV chart confirmed MFLOUR is in an uptrend pattern.
R 0.86
S 0.79
Pre Consolidation Breakout Setup.
NO INVESTMENT ADVICE IS PROVIDED
DISCLAIMER
Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any...
Trade ideas for this counter.
Wait for signal candle - hammer/inverted hammer at this green zone before decide for buying opportunity.
There are 3 triple top that price try to break but failed.
Happy Trading.
TAYOR
MFLOUR coming to the last contraction of VCP development after 160 days.
C1: ~25%
C2: ~12%
C3: ~14%
C4: ~9%
C5: ~4%
As you can see the volume spike during price spike and volume reduce when price retrace.
Awaiting volume again to attack. And with current supply is so dry, easily will spike up high.
Immediate support: 0.650 (6% risk)
Disclaimer: Sharing chart...
