KLSE Technical Analysis
Nov 16th : Vivocom Morning Session closed $1.74 volume 54.4m
What an exciting and rousing morning sessions it was indeed. Vivocom most definitely did not disappoint.
Here are the highlights of a most mesmerising run in KLSE for a long time to come indeed :-
1) 3 pips gap up and ran away from last Friday close, 10.8 million transacted within the first 15 mins of trading. A dominant and surging bullish white candle formation clearly emerged.
2)15 min chart showed the break away fr $1.55/1.60, two key resistance levels appeared, a mild retest support at $1.60. But aggressive traders/investor stormed in setting a new base at 1.60 with a ferocious rebound.
3) Within the next 5 min the price raced away fr $1.60,
with Wave 3 decisively taking control right after the share price crossed $1.60.
4) This sent out very strong indications that the Rally would run away and sharply upwards in no time upon which an army of aggressive and savvy traders/investors all rushed in frantically and committed big $ and looking for more upside.
5) This drove Vivocom’s shares heading to wave 3 target $1.93( 261.8% of wave 1 extension).
6) We are currently at wave 3/5/3/3 and the next wave uptrend target will be at $1.93/$2.05/$2.10/$2.45( pic 1).
7) In Chart pattern trading methodology, I see a flag pole formation forming at 1 hrs chart. I am monitoring the set up as traders will buy/scale in right after break away from $1.76, target for the flag pole formation will be $1.75+$0.26 = $2.01(pic2).
For the afternoon session I’m supremely confident that the uptrend shall continue to soar above RM1.75.
Bear in mind that this Vivocom’s SuperBull run is just beginning.
The BEST is yet to come. In due time, even RM2.00 shall be considered a bargain n bottom fishing.
Happy Hunting Guys. Vivocom will bring smiles and happiness to all who have staying power!!!
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Nov 20th : Market Report on Vivocom. Close $1.74 with volume 68.24m.
Created by mwong3 | Nov 21, 2020
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