Do you all believe what i mention before about this Double Peak for MBSB? Read my last posting.. Grrrr..
Observation
1) Trendline - Sideways or downtrend ( Bearish)
2) Formed lower low- Bearish
3) MACD - Bearish crossover and broke below 0 and formed 4G1R(Bearish)
4) RSI -broke below 30% (Super Bearish)
5) Sto -Broke below 20% and Bearish crossover (Super Bearish)
6) ADX - weak momentum and Bearish( Bearish)
7) Candle Stick - Formed black candle with high volume ( Bearish)
8) Chart Pattern - Double Peak and retracement ( Bearish)
9) Volume Distribution - Selling Pressure high (Bearish)
9 Points
0 Points
ConclusionWinner Bear ( Throw down wrestling style)
Retracement and with many Bearish Signal.. Worst of all which is a double peak potential to drop until RM 1.03
Entry Price 1.45
Support at 1.36 ( break below this and be careful of the double peak pattern which may dive down towards 1.06 which is about 23% loss)
It went up a lot after your analysis. It is nothing wrong with the analysis, it was because newspaper saying that government may sell MBSB, create some buying interest.
ReplyDeleteBut look what happen now. Down down down.
I wish i know technical analaysis.
Well TA is just a good reference point.. But it will affected by the Rumors and News too..
ReplyDelete