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What i can see there are hidden divergence was formed which is a bit rare to see this kind of divergence. Since there are gap upon. I believe the upside potential is high. Target for previous swing high might reward around R3
Looking at the chart of Poh Kong Holdings Berhad (MYX:POHKONG) and using the Moving Averages indicator, we can see that the stock has been trading above its 50-day moving average (MA) for most of the past few months. This indicates that the stock has been in an uptrend, and traders may want to consider buying on dips.
However, there have been some recent bearish...
Pohkong price have been surging up for > 30% for past 6 months due to gold price. As gold price might be in “consolidation” probably “triangle range” for few years. So will pohkong..
Gold as a main trading instrument for “hedging” inflation doesn’t seem its “shining” probably the The trump “cash is king/US $ “ “after affect” still “dominating” after 2 years..What “make up stories /fundamentals news“ “can buy” this time that could make gold soaring high again?!
1)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts...
Disclaimer
The price candlestick indicates a breakout signal due to significant price movement with high volume above the MA20 line.
The RSI momentum towards indexes 70 where high buying momentum.
MACD and OBV indicators indicate a positive trend towards an uptrend pattern.
Precaution for a price correction ~10% - 20% from recent peak price due to short position by the...
POHKONG ( Gold/ Jewelry retailer ) may just completed its wave (D) (cyan) of bullish triangle. Price may down to Wave E ( Cyan) of triangle. Before a "Breakout Triangle" the GOLD's Bull Run!
