weekly downtrend broken at demand zone (3th touch), fall back to demand zone (4th touch) breakout with engilfing. Attractive RRR.
Entry TP1 TP2 SL1 SL2
4.77 5.12 5.80 4.42 4.23
Topglove has been Malaysian's favorite stock counter.
it have a pull back retrace due to the increase of operation cost, supply demand imbalance, slow down of growth...
Technically, it have meet Fibonacci support, with the tight cut loss plan ( below 4.48), is it a worth looking counter for 3rd Quarter 2019?
*Disclaimer - This analysis is NOT a buy call...
TOPGLOV (7113)
Bearish Trend formation since December 2018.
Price retrace from RM5.70 to RM4.30 in the month of March 2019.
Recent price movement has formed a Bullish Trend formation on TOPGLOV.
Price Target at RM5.30 short term.
According to the chart, TOPGLOV had a resistance (R1) at 6.10 and a support (S1) at 4.70 before it completed a one year double top pattern on 28 Feb 2019. The completion of a double top signals the price is no longer rallying, and that lower prices are potentially forthcoming. The share broke below the support (S1) at 4.70 and closed at 4.54 with a volume of...
In this video, we share how you can show weakness, lack of interest by Smart Money and exit of Pullback.
Send us your preference stock to review based on TradeVSA chart by comment at below.
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy...
3 Major Sign of Weaknesses you should spot using Volume Spread Analysis Method:
1. Up-Thrust at distribution stage
2. Confirmation / Beginning of Mark-Down stage with high volume Sell-Off bar
3. Lack of Interest by Smart Money with widespread upbar and low volume
Send us your preference stock to review based on TradeVSA chart by comment at below.
Disclaimer...
Based on technical analysis, Topglov could be a trading BUY. If you choose to trade these breakout, please do so with caution given the many headwinds we are facing now. Good luck!
TOPGLOV managed to closed the big gap formed 3 months ago. Though 5.82 is a strong support formed at the Weekly chart, it might not respect it. We believe 5.55 would be a good entry and there is a strong rumors and reporting that the counter may be included in the index.
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DISCLAIMER
This presentation solely meant for information purpose...
As long as the above levels are holding properly i'm with the BULL, if ever price come to restest those levels a good opportunity to long is there.
Trade safe.
