MTRONIC trade ideas
High Risk High RewardSame pattern detected as October 2020.
Price currently on weakening downtrend.
Current price at support 0.060 - 0.065 (Yellow), might worth to wait for second support at 0.050 (complete retracement).
CL if break second support 0.050 (Red).
R1: 0.110 (Blue)
R2: 0.125 (Purple)
R3: 0.190 (Green)
Idea for educational purposes only.
TAYOR
RISKY MIGHT WORTH ITIn my previous analysis, we are running profit almost 45% before the price move to the downside. Price previously touched supply zone and have a strong bearish momentum as for now. So, here's the update forecast movement for this counter. What I can see is the price currently making deep retracement to the downside as there's a lot of selling pressure today (dated 25 Feb 2021). What I meant by 'risky' is the price still in channel movement and I might consider to entry at green zone area for a short term strategy.
MTRONIC FACING BULLISH PRESSUREPrice in compressing and we can see there is still a bullish momentum for this counter as it keeps making Higher High structure. Area to be monitor is around green zone area with a small risk just below the support line and demand zone. Cut loss if the price against the analysis.
MTRONIC - potential bullish ahead, but ...Riding uptrend channel. Stochastic (H4) signals possible small pullback at 0.125 (50%) or 0.105 (61.8%) before climbing up higher. TP 0.17, 0.19, 0.24 (Fibo 1.272), with Support at 0.1 (RRR 1:1). Safer entry would be to wait after confirmed reversal after the pullback.
Speed: Fast with only 551M shares float (44% of 1246M shares)
Sentiment: Vaccine from Taiwan, subject to regulatory approvals of the local pharmaceutical authorities. Riding this un’confirmed’ vaccine sentimen, traders must be extra careful, and exercise strict exit. Source The Star 28-11-2020
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