Observation
1) Trendline - Downtrend Bearish
2) Formed lower low- Bearish
3) MACD - Below 0 and kissing ( Awaiting confirmation )
4) RSI -broke below above 50% ( Bearish)
5) Sto - Bearish crossover ( Bearish )
6) ADX - weak momentum and bearish
7) Candle Stick - Bearish Gravestone Doji ( Bearish) Refer to What is gravestone Doji
8) Pattern - Descending Triangle ( Bearish)
Conclusion
The Chart Pattern is showing negative but there was a good news at theedgemalaysia that they won a RM720 subcon contract. THE EDGE
Entry Price 4.72
Resistance at 4.8 & 5.14
Support at 4.48
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