KLSE Technical Analysis

Nov 18th :Morning Session Vivocom cosed $1.83 with volume of 23.1M.

mwong3
Publish date: Wed, 18 Nov 2020, 01:20 PM
mwong3
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Vivocom’s shares were most aggressively and robustly traded this morning, opening yet again two pips Gap Up at $1.82, and raced sharply to $1.88, before actively trading range bound between mostly $1.77 to $1.83.
 
Here are the highlights:
 
1) As I mentioned yesterday there would be enormous demand for Vivocom’s shares if the price levels at ($1.70-$1.74) were retested again. Sure enough this came true today.
 
2. Today’s 1st 30 min showed resilient &strong bullishness of investors and traders as they rushed in in droves to frantically snap up all selling at $ 1.73-1.75 levels.
 
3. The price rebounded almost  instantly to $1.87, which proved that there exists massive demand & support for Vivocom’s shares at the $1.73-$1.75 price levels.
 
4)The selling is undoubtedly drying up as we could see in 15 minutes chart, with Price Volume Rate of change very healthily showing an exciting exaggerated bullish divergent.
 
5) This basically said that the bear assault is running out of steam & weakening! (pic 1)
 
6) My Commonality Analysis also showed that consolidation would continue with healthy Volume(pic 2) !  
 
7) Elliot Waves & patterns of 3/5/3 formations of the past few sessions are pointing to a very high chance of the next big upswing resuming in near term  with price targets $2.32/2.45/2.70  being attained sooner rather than later.
 
I can envisage a stronger n more formidable uptrend in the afternoon session.
 
Best wishes to all True Followers and Believers of Vivocom, the Surging Bull!
VINVEST (0069)
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