treec00l

PENTA: Bullish Engulfing Sighted On weekly chart!

Длинная
treec00l Обновлено   
MYX:PENTA   PENTAMASTER CORPORATION BHD
After Morning Star at new support appeared on last 17-Aug-2020 at daily chart, bullish engulfing was sighted at weekly chart now.

Trade At Your Own Risk (and Analysis).
Комментарий:
Price has successfully moving up, heading towards the ATH resistant at 4.96.

Current price (28-Aug-2020) at 4.77 is slightly higher that fibo projection of 1, at 4.765.

If price can sustain above 4.765, price will move toward the ATH resistant, and subsequently will move to the next resistant of 1.618 fibo projection at 5.12.
Комментарий:
Bearish engulfing was seen for this week, cancelling the previous momentum.

Hopefully next candle will neutralize this bearish candle and once again to test the ATH BO.
Комментарий:
The bearish engulfing is too strong, plus the volume indicating bearish over powered the bullish, thus the price went down to 4.40.

Need to monitor closely, to take action if reached CL.

However still possible to maintain position, since EP is at 4.40 as well.
Комментарий:
Bullish engulfing was seen for this week. Expected some momentum up to the ATH resistant at 4.96.

Go go go Penta.
Комментарий:
This week the bear still able to beat the bull, leading to double top tweezer candlestick.

ATH resistant at 4.96 is really hard to break.

We are still able to hold on PENTA.
Комментарий:
Again, PENTA failed to break the 4.96, and candle inverted hammer was seen here.

Considering this, TP at 4.95, and wait for another opportunity after completely pull back later.

Done for this chart analysis.

EP: 4.40
TP: 4.95

RM0.55 profit, 12.5% profit for this 1 month and 2 weeks
Отказ от ответственности

Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.