The current point exhibits promising upward signals according to my algorithmic system, meeting various criteria. These include rising trading volume, an upward trend indicated by prices above EMA20 and EMA50, and the closing price surpassing VWAP. As a result, the present conditions suggest a potential upward trend.
1. Pantech price maintain above EMA 100, EMA 50, and EMA 20 suggesting a bullish trend in the mid to long term.
2. Price has showed weak momentum compared to the KLCI index in past month signaling retracement mode but enable to form base above EMA50.
3. Any breakout above price, 0.885sen consider as buy breakout signal
Pantech, with the assumption of on going Phase E, i decided to initiate position @ BO of local Buec
Entry : 0.910
Cl : 0.890
TP (2r) : 0.950
Pure Wyckoff Methode
Pantech has recently broken out of the resistance at 0.905, and a signal (light blue icon) suggests that the volume is also supporting its upward movement.
PANTECH showing obvious cup and handle setup. Looking good with recent price and volume action.
Attempt breakout on previous resistance (red line) and experience pull back.
Let's see if able to build a pivot and setup a momentum for solid breakout.
p/s: Good rally on previous sharing for ECOWLD, KPPROP, CAPITALA.
I shared PANTECH chart back then in 30th March (link below). The breakout doesn't last long and sell out was triggered due to break support. This is a breakeven trade back then.
The chart that formed a double bottom. And recently higher low is observed with volume start to come in. QR look decent too. Will PANTECH further attack?
Disclaimer:
Information...
This is the fourth time I share PANTECH. Can see the link below for my previous sharing.
Previous trade in March got ~10% gain.
However in September, trade was not successful as the chart further developed C2 correction.
Recently got a C3 setup with low risk <5% pivot. Very tempting!
Overall VCP in Weekly chart:
C1: -27%
C2: -13%
C3: -4%
Let's monitor, today...
Can try PANTECH. Rebounding from fibo786 with fresh blue dot (volatility reversal) in daily chart and also at EW ABC corrective zone. Retracement EP at weekly PoC or fibo786 (0585) for retest, TP1 at fibo50 and pivot point (0645) and TP2 at wave B (0710) and CL below recent swing low (0545).
PANTECH showing VCP setup with below contraction:
C1: -14%
C2: -3%
C3: -3%
C4: -6%
At the same time, chart also showing a double bottom setup (Black line path)
Handle forming in progress. Let's see if can breakout previous high or not.
Disclaimer:
Not buy call recommendation. Technical analysis sharing based on chart pattern and trend. Trade at your own risk.
PANTECH has developed VCP with 3 contraction. Cup and Handle also observed at the same time.
C1: -21%
C2: -5%
C3: -5%
Price breakout on 3 Feb. Let's see will volume continue follow through the price out or not.
Disclaimer:
Not buy call recommendation, just sharing technical analysis through chart pattern. Trade at your own risk.
PANTECH IN ABCD BULLISH HARMONIC PATTERN. Current price has crossed 0.530 yearly resistance and fibo786. Probable EP would be 0.520 to retest EMA200. Probable TP would be 0.615 at R1 (that is, in-between fib382 and 236). Probable CL would be below recent swing low at 0.490.
Cup shape done,currently forming handle pattern.Price probably will retest back lower trendline to complete the handle,before breakout.Weekly MACD is just crossing up.Fundamentally,company shows increasing sales and profit,at least for the last 3 quarters consecutively.
