For traders who like to long, the key resistance at 0.62 is a key crucial level, rejecting it will see the bear resuming its sell down. The only thing supporting the bullish outlook is that the hammer found its support at the immediate support which confluence with the 50% Fibonacci retracement level of the whole bullish up move since 18th March.
Hourly chart shows a divergence with prices making lower lows while the RSI made higher high within the oversold region. Potential rally after the post-FY results sell down?
Refer to the above post.
On 3rd of April, we believe that Valuetronics Holdings rebound may continue to the 161.8% extension level and price did travel to the level at 0.595, short of 0.05 of our target price. The price did have some reaction by selling down on Monday and based on the technical, the stock is set to continue its downside:
1. The stock had a...
Valuetronics has sunk Low and in light of a potential bearish flag, we see some buying action after today’s bullish Engulfing Pattern at 38.2 retracement level. However do take not this is A COUNTER TREND TRADE. So exercise some caution
