Gerald Koh Stock Charts

Author: kkw84   |   Latest post: Tue, 7 May 2019, 12:21 PM


Dayang Forms A Descending Triangle.

Author:   |    Publish date:

Original Blog:http://www.geraldkohstockcharts.com/

In March 2019 after the rally, Dayang broke the RM1.40 weak support and the selling continued. On 25th March, the stock opened at RM1.27 and closed higher at RM1.35 with volume slightly higher than the previous day. This indicated that the demand was higher compared to supply. Subsequently the stock was traded between RM1.31 to RM1.44 with low volume. On 8th April, the stock gained 10% in a single day and closed at RM1.54 with high volume. However, RM1.30 tertiary test came after 5 days trading and the stock continued to test the RM1.30 support. On 18th April, the stock gave an impression of potential spring with a strong hammer. The spring was confirmed on 22nd April with higher closing price and volume. After two days spring, the stock is testing the RM1.30 support again.

Descending Triangle

The picture shows descending triangle is formed with support and resistance are being tested. Descending triangle is ambiguous and it could be distribution or re-accumulation phase by the composite man. It is hard to determine for the time being on which phase the stock currently possesses. I would monitor closely the price action before enter the trade. On the other hand, short term trader can enter position at RM1.30 and cut lost below the same price after the quaternary test.    

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Labels: DAYANG

Related Stocks

Chart Stock Name Last Change Volume 
DAYANG 1.15 +0.02 (1.77%) 12,337,000 

  Be the first to like this.
BenPg Is Time for Oil & gas to shine next week.
26/04/2019 8:16 PM
tm9999 Brent diving now...still say oil n gas shine.
Stupid fellow.
26/04/2019 8:24 PM
BaybieShark Brent up and down, as long as stay above 70 will do
26/04/2019 8:33 PM
speakup this is not good news!
if u study technical analysis, "descending triangle" is no good as cos it has lower highs.
"ascending triangle" on the other hand is good
u know what to do....
27/04/2019 10:50 PM
qqq3 triangles can lie.
27/04/2019 10:50 PM
tah16600 Chart like shares. can also be manipulated .If u think the shares got potential to go up just hold lah
27/04/2019 11:50 PM
lazycat the price chart look manipulated
27/04/2019 11:59 PM
tah16600 If aldy committed at high price, just hold till u make profit loh!. This how the game works.
28/04/2019 12:19 AM


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