Possibly still completing formation of HL, before continue its bull. Currently within collection area (32.8%-61.8%). Watch for rebound. Invalidated if price to close below previous H (3.78) # For education purpose only TAYOR
MI Rst: 4.54 Spp: 4.20 Refuse to go below MA50, the stock shall build support around this level which coincides Fibo Ext 78.6%, downside probably limited here.
HHHL Y1<Y2 + strong uptrend GOT power up T1<T2 TP @ fibo 1.618 W&R SUCCESS in ST support getting weaker TP @ 5.760 SL @ 3.695
3rd cycle completed, need to wait confirmation breakout 3rd cycle (RM4.74) just suitable to enter. Else the risk is quit high atm.
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 ? 4.5 ( 6%) 5) Where is your Entry Point ? wait til 4.68 6) What is the % risk (Stop Loss - Entry Point)/Entry Point 6% 7) Can you take this N% risk ? yes 8) you got a setup if yes.
MI Rst: 4.54 Spp: 4.20 Breakout charge continues, with the support of strong RSI, MACD, reaching Fibo Extension 100% and even breakout from this point is possible.
Trading Plan: EP - If price breaks and close above 4.30 at 1HR TF. TP at 4.63, wave 5 - 61.8% CL - if price moves below 4.13
Careful on MI! As it completed H&S pattern. Target for H&S if its break the neckline is around 2.85.
If my drawing is correct, MI is performing complete H&S, will go south until RM3.40...
MYX:MI Chart Pattern: N Pattern/ Higher Low Candle Pattern: Bullish Engufling Fast Turtle Buy:4.44 FIFT +ve (spike) Atom Buy Stochastic Higher Low Crossed up Enter above :4.44 SL: 4.2 TP: 4.85,5.3 Hit each TP clear 50% of the portfolio ANYONE INTERESTED ON TURTLE TRADING SYSTEM PLEASE REFER MY MENTOR @KGIAP123 docs.google.com
28/8/2020 Price keep on break higher as higher but RSI did not break higher compare with previous high first higher price start on 22/7/2020 second higher price on 5/8/2020 Recent price break higher than previous higher but RSI indicator shows lower as lower on 24/8/2020 Be caution on it !!!
MI has been trading above its sloping 20-Days Moving Average which is a good sign. In addition, the price just broke the resistance of 4.24 reinforcing the bullishness in the recent price movement. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence...
Rebounding from EMA25. Technology stock always the bullish.. If you like my chart, just give me a LIKE, follow me and share it to your friend. :) Disclaimer: I am not Investment guru. Every stock analysis are purely for my personal learning and practice purpose. It is not for any buy or sell call to anyone. Everyone are responsible at your own trades.
Possible 3-3-5 structure regular flat corrective wave forming Potential Entry when price breaks flag pattern (circle) at 4.00 TP previous high area
Trend RSI Overbought yang konsisten sejak Minggu Ke2 Julai 2020. Dijangka RSI Overbought akan berterusan sehingga Ogos 2020.
RM3.830 would be a crucial support line for MI. Should it break below this support, this will mark the continuation of a downtrend.
Mi within this upward trend is safe. Price increased with big volume, price retrace with small volume. Good Sign of Shark collecting MI share. Looking forward to achieve higher price.