KLSE Technical Analysis

Nov 19th : Vivocom Morning Session closed $1.98?volume 60.6M

mwong3
Publish date: Thu, 19 Nov 2020, 12:59 PM
mwong3
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What a fabulous and strong, strong opening with 6 pips gap up! 
 
It was then followed by an equally strong pull-back to close the gap and retested support at $1.87. 
 
Price however sat at the support level briefly for less than 5 min,  before swarms of bullish traders/investors rushed in to swoop up all the available sell Q from 1.87 to 2.01 in less than 15 min.
 
Such a robust & ferocious trading environment had nicely kick started an extremely bullish tempo by traders/investors and retailers alike,so much so they are now seeking more upside and higher return ! 
 
Here are the highlights of 
The Chart Pattern Trading Methodology (Picture1) :
1. Pennants break out away ! This is a solid confirmation of a bullish and soaring uptrend continuity.
2. Price pull back to retest immediate support at $1.95 which offered opportunities for traders like me to acquire position to capitalise on the next uptrend expected to continue in the afternoon session.
3. Base on past history, in all likelihood, the price shall attain the full length of flat pole upon breakout, and when it does, Vivocom shall be heading towards $2.39 and $2.91 which would be handsome rewards for swing traders who collected at $1.95. Walao eh. Fuyooh..
 
EW Trading Methodology ( Picture 2)
1.We have 5 consecutive impulse wave developed right after it crossed 1.95 and touched 2.05 followed by optimum pull back which was a 50% of d retracement. 
2.The 50% pull back was in fact so gorgeous a better wave structure wave 2 correction instead of 4 was triggered. 
3.Now we are riding Wave 2/3/3/5/3 formation, and the moment Vivocom breaks and crosses $2.05 will be the confirmation of 5 consecutive impulsive wave up formation... Woah woah just imagine 5 turbo engines installed in your car. Even s Lambho or Ferrari cannot keep up leh.
4.The target price for wave 3/3/3/5/3 will range from $2.51 - $2.80.
 
I really can’t wait for 2.30pm when the afternoon session resumes. Give me more baby hit me one more time. No lar make it several times.
 
Vivocom, KLSE SuperBull Numero Uno!!!
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