Mpay look like a good setup for long position. This counter taking a Momentum.
High Risk trader can enter between 0.13 - 0.135.
Low risk trader can wait for reverse fib 0.382 at price 0.115.
TP1: 0.15
TP2: 0.16
Not a buy/sell call. All analysis on personal view. DYOR before enter any trades.
Cheers!!
First article featuring MPAY on 12 July. Fake breakout that day and further correction ~15% (formed C3).
VCP continue to developed at C4 now. Continue monitor and waiting for signal to go in.
Overall setup now:
C1: -35%
C2: -16%
C3: -14%
C4: -8%
Let's see if this round will breakout all the way or not.
Disclaimer:
Not a buy call, just sharing technical...
MPAY seems like making RBS @ 0.235 (both main & mini volume profile point of control as support)
Potential target price @ 0.315 (fib extension 1.618 level & previous resistance)
Disclaimer:
This is intended to be used and must be used for technical analysis education purposes only. Trade at your own risk.
Seldom cover penny stock in my sharing as the risk and volatility are higher.
MPAY has nice VCP development with contraction below:
C1: -33%
C2: -16%
C3: -12%
C4: -4%
Low risk entry ~5%. Waiting breakout with huge volume.
Disclaimer:
Not a buy call, just technical analysis sharing based on my experience. Trade with your own risk.
NO INVESTMENT ADVICE IS PROVIDED EXCEPT FOR TECHNICAL ANALYSIS PURPOSE.
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...
MPAY looks like ready to breakout from cup with handle pattern with the neckline at 26.5 cents. Past few sessions volume have also been more active. Based on the depth of the cup, the potential price objective for MPAY could be somewhere at 35 cents. Will the cup with handle breakout be successful? Let's seee
Dislaimer:
This is by no means a recommendation to...
Following a significant movement to the upside above the weekly valid DTL, MPAY is seen bullish as the price structure began to push higher with formation of HH and LH. A healthy pullback is seen since Feb by a symmetrical triangle pattern on lower timeframe. Theoretically, a symmetrical triangle could breakout in less than three months, which we believe in any...
The most of strongest Momentum wave - Golden Wave (impulse)
Criteria :
Minor wave 3 in 3rd impulse major Elliot Wave
Strong Bullish Momentum volume unusual
Steepness of a trend line increases from 45% to 70% deg
Strong Break in bar retracement symmetry leading to a change in trend behavior
Bullish gap up price action
