Gamuda...Inverse Head And Shoulder Breakout

Gamuda...Inverse Head And Shoulder Breakout

einvest88
Publish date: Fri, 17 Jan 2020, 10:07 AM

Gamuda, form a huge inverse head and shoulder with neckline at 4.04. The breakout was happened last week with price surge to hit 4.09 before pullback back hit the lowest of 3.88. Last two days the uptrend resume and breakout from the triangle this morning as seen in the following chart.

From the Inverse Head & Shoulder price target, the upside is around 6.

From the chart below, obviously Gamuda is on uptrend with new leg just began from 3.40. Current phase of uptrend will expect to be higher than 1st leg from 2-4.04...It can be seen from the weekly MACD (breakout from above zero line) and Guppy EMAs.(Golden Cross). If the history repeat again like what happen in mid 2006 and mid 2009, then current trend expect to be very powerful given that most of the mega infrastructure projects going to role out in 2020. 


 

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