Simple13 Trading Idea
Technical Setup:
The stock took 67 days to break out of the consolidation zone between RM 0.96 and RM 1.16 with high volume, indicating potential bullish momentum.
After the breakout, there is a high probability of a pullback, which creates an opportunity to enter at lower levels within the buy zone.
Entry Strategy:
Plan to accumulate shares during the pullback between RM 1.10 and RM 1.15, a zone that offers a favorable entry based on support and risk management levels.
Profit Taking:
If the price rises to RM 1.30, take profit as this represents an 8.3% upside from the current price, and it is a likely resistance level.
Profit-taking strategies should always consider individual preferences and risk tolerance.
Risk Management:
If the price drops below RM 1.05 and breaches the 20 EMA, cut losses to minimize downside risk, as this could indicate a deeper pullback than anticipated.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research or consult a professional before making any trading decisions, as market conditions can change rapidly.
HHUPSENG
The stock took 67 days to break out of the consolidation zone between RM 0.96 and RM 1.16 with high volume, indicating potential bullish momentum.
After the breakout, there is a high probability of a pullback, which creates an opportunity to enter at lower levels within the buy zone.
Entry Strategy:
Plan to accumulate shares during the pullback between RM 1.10 and RM 1.15, a zone that offers a favorable entry based on support and risk management levels.
Profit Taking:
If the price rises to RM 1.30, take profit as this represents an 8.3% upside from the current price, and it is a likely resistance level.
Profit-taking strategies should always consider individual preferences and risk tolerance.
Risk Management:
If the price drops below RM 1.05 and breaches the 20 EMA, cut losses to minimize downside risk, as this could indicate a deeper pullback than anticipated.
Disclaimer:
This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research or consult a professional before making any trading decisions, as market conditions can change rapidly.
HHUPSENG
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