Well everybody thought Gamuda will make a return and rebound at RM4 so was I!!.
Well seem like selling interest is higher and RM4 support was broken.
Observation
1) Trendline - Below the Downtrend line -- Next support at 3.88 --> 3.8 ---> 3.73
2) LL - Forming Lower low bearish
3) MACD - Look like the Red army is win in a bigger gap compare to the blue army. MACD histrogram move to negative region no good sign
4) RSI - going down bearish
5) ADX- High Momentum with bearish signal- This downtrend will be strong
Conclusion,
Take profit first and wait for the next reversal and penetrate throught the Downtrend Line before accumulating
Well seem like selling interest is higher and RM4 support was broken.
Observation
1) Trendline - Below the Downtrend line -- Next support at 3.88 --> 3.8 ---> 3.73
2) LL - Forming Lower low bearish
3) MACD - Look like the Red army is win in a bigger gap compare to the blue army. MACD histrogram move to negative region no good sign
4) RSI - going down bearish
5) ADX- High Momentum with bearish signal- This downtrend will be strong
Conclusion,
Take profit first and wait for the next reversal and penetrate throught the Downtrend Line before accumulating
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