Simple13 Trading Idea
Current Price: RM 1.15
The stock successfully broke a 126-day consolidation and is now trading with strong upward momentum, pushing the RSI into the overbought range on the daily chart. Since the price is extended, waiting for a pullback could offer a better entry.
Potential Pullback Supports
Fibonacci Retracement Support (Daily Basis):
I adjust the Fibonacci retracement levels daily based on recent price action. Typically, I focus on the 50% retracement level, a key area where buyers might step in. This keeps the support level dynamic and in line with market movements.
20 EMA Support (Daily Chart):
The 20 EMA acts as a dynamic support level in a strong uptrend. If the stock retraces to this level, it could offer a buying opportunity, as prices often bounce off the 20 EMA in a sustained uptrend.
Trading Plan
Entry Area: RM 1.10 (near Fibonacci and 20 EMA support)
Target Price: RM 1.30 (based on projected resistance and price targets)
Cut Loss Level: RM 1.05 (if the stock closes below this level, indicating trend weakness)
Risk-to-Reward Ratio: 4:1
Summary
This setup aims to capitalize on the uptrend while managing risk with a clear entry, target, and stop-loss level. Adjusting the Fibonacci retracement and 20 EMA support on a daily basis will help refine entry timing.
Disclaimer: This is not financial advice. Conduct your own research before making investment decisions.
AADB
The stock successfully broke a 126-day consolidation and is now trading with strong upward momentum, pushing the RSI into the overbought range on the daily chart. Since the price is extended, waiting for a pullback could offer a better entry.
Potential Pullback Supports
Fibonacci Retracement Support (Daily Basis):
I adjust the Fibonacci retracement levels daily based on recent price action. Typically, I focus on the 50% retracement level, a key area where buyers might step in. This keeps the support level dynamic and in line with market movements.
20 EMA Support (Daily Chart):
The 20 EMA acts as a dynamic support level in a strong uptrend. If the stock retraces to this level, it could offer a buying opportunity, as prices often bounce off the 20 EMA in a sustained uptrend.
Trading Plan
Entry Area: RM 1.10 (near Fibonacci and 20 EMA support)
Target Price: RM 1.30 (based on projected resistance and price targets)
Cut Loss Level: RM 1.05 (if the stock closes below this level, indicating trend weakness)
Risk-to-Reward Ratio: 4:1
Summary
This setup aims to capitalize on the uptrend while managing risk with a clear entry, target, and stop-loss level. Adjusting the Fibonacci retracement and 20 EMA support on a daily basis will help refine entry timing.
Disclaimer: This is not financial advice. Conduct your own research before making investment decisions.
AADB
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.