Better wait at RM0.610/0.435
Resintech is a unique company that brings together the very best state of the art manufacturing technology from Europe and Asia together with the finest grade of Polyethylene materials to produce the finest quality polyethylene products for customers throughout the world.
RESINTECH BHD :-
After a continue uptrend movement now this counter is expected to shoot up to a point 1.19 and recently break the resistance of 1.130 and is indicating to move up and if breaks the next resistance of 1.190 then can make a new high of 1.220.
It is making a candle chart formation of breakout pullback formation and the entry point is...
Happy CNY everyone!
RESINTC got decent profit last year around Oct. Have been monitoring RESINTC since Jan 22 when it showing rigid setup back MA50.
Currently developed VCP at C3.
C1: -28%
C2: -16%
C3: -5%
Let's see if this round can spike for ATH or not.
Disclaimer:
Not a buy call. Just sharing technical analysis through chart pattern. Trade at your own risk.
I traded RESINTC back then in Oct 2021 and got profit around 25%. (Previous idea in the ink below)
RESINTC experience major profit taking from 12 Nov till 6 Dec. This form the C1.
Price and Volume return back strong on 21 Dec 2021 - this caught my attention After that price undergo natural reaction with volume contraction. (C2)
Price and volume surge again on...
RESINTC VCP setup in progress with below contraction:
C1: -31%
C2: -17%
C3: -8%
Volume of recent 2 days indicate something is coming. Let's see.
Disclaimer:
Not a buy call suggestion. Just sharing on the technical analysis through chart pattern. Trade at your own risk.
Support: 0.73
CULTOST 0.69
Resistance: 0.77/0.81
RESINTECH BERHAD, an investment holding company, is engaged in the design, manufacture, trading, and marketing of various plastic pipes, water tanks, and fittings in Malaysia. It offers polypropylene, polyethylene, and acrylonitrile butadiene styrene pipes and fittings. The company is also involved in providing...
Bat pattern will be form if reach to 0.886%.
For comfirmation it must BO and closed above B level (white line).
Cutloss price is A level (red line)
#TAYOR MYX:RESINTC
A significant price movement make RESINTC closed above MA20. MACD and OBV charts also showing a positive divergence. It is a beginning of a long trade position. Put this in your WL and watch out for a Break-Out (BO) pattern this week.
You can consider using VWAP 15 minutes chart to identify Entry Price (EP) and place your bid below the VWAP line. Because...
Support: 0.61
CUTLOST 0.57
Resistance: 0.65/0.69
RESINTECH BERHAD, an investment holding company, is engaged in the design, manufacture, trading, and marketing of various plastic pipes, water tanks, and fittings in Malaysia. It offers polypropylene, polyethylene, and acrylonitrile butadiene styrene pipes and fittings. The company is also involved in providing...
Resintech opened with a gap above our target level at 0.645, which likely to be an exhaustion gap as the overbought alert is seen on daily RSI. The price however, failed to close above Fibonacci barrier at 0.825. Be cautious as the price is likely to pull back from resistance level. New support level is seen at 0.645.
Disclaimer: No trading strategy provided...
