JFTECH long trading plan

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Disclaimer : This analysis is not meant for buy call, but personal trading idea log for reference.

Analysis is based on trendline and channel. Confirmation on our long position are based on RSI, Stoch, MACD and MCDX (indicator by kgiap123).

JFTECH is in uptrend and this is confirms by the channels, trendline drawn based on LL, LH, HL and HH indication on chart. Retracement on 9 July 2020 is noted based on the HH indicator thus a down trenline is drawn and monitor if there is any breakout in daily chart. Today 21 July a breakout happened at daily chart. The uptrend may continue tomorrow, and if it breaks the HH resistance line, it may go higher. Based on fibonacci indicator for a long position trade can reach highest TP at RM4.50.

Confirmation of long position are based on:
- MACD crossing up forming.
- RSI > Stochastic
- MCDX that indicate smart money still high more than 50%.
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Price closed today higher than previous, MACD near to cross-up and MCDX shown buy sentiment still higher than sell. Thus momentom still exist to break the trendline, and if breaks it will continue to next TP.
klciTrend Analysistrenlines

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