KLSE Technical Analysis

Abric Is heading to $0.640/$0.670/$0.700

mwong3
Publish date: Thu, 30 Jul 2015, 12:47 AM

Excutive Summary

1 hour candle, descending triangle breakout away from $0.570 go beyond 0.590, this action was activate 2 consecutive wave 3 formation which is carry bullish imprication, it is heading to $0.640/0.670, the price action pulling futures and instutional trader attention to trade on this stock. In daily trend, Symmetrical triangle Breakout away $ 0.570, Target suggested by the chart pattern was $0.655/0.675

Target of future trader is $0.615/0.670

Target of position trade is $0.635/0.700

Target of Institutional Trader/Inverstor : $0.640/0.670


Resistance $0.600/0.630

Immediated support at 0.560

I will lock partial profit along the resistance line and full profit at the 2nd target
I will apply trailing stop after price pass through resistance line
My stop loss is price close below 0.560.

 

Technical Sharing (Elliot wave)

 Weekly Chart is wave 5, which is heading to $0.670/$0.700/$0.750 

 

 

Daily Chart 

Daily wave degree on minor and intermediate is heading to 0.640 and 0.670

 

 

Chart Pattern( triangle Break out),

Daily Chart 

Pass data suggested the target prices will reach $0.655/0.675, 

 

 

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