KLSE Technical Analysis
Nov 20th : Vivocom Morning Session closed $1.78 with volume 36.5m.
After 3 weeks super bull rally, it’s normal to see heavy profits taking by short term market players.
This has slowed the rally down somewhat but essentially it’s a very healthy retracement as the uptrend is still solidly in tact and the Bulls are still in overwhelming command.
Below are my Technical analysis that Vivocom will likely enter a correction phase before staging an even stronger and more powerful rebound.
1. EW Trading Methodology ( Picture 1)
A) Extended wave 5 no longer valid as the price move down to break $1.80, resulting in Elliot wave directional change,
B) Vivocom has entered back in to wave 4 correction (bigger) and, the wave 4 target is $1.78 and $1.62, which is 23.6% and 38.2% of wave 3 respectively.
C) I am monitoring a new wave structure emerging, a typical case is we should have internal wave ABC correction taking shape but not fully confirmed yet.
D) We are in now Wave 4 of 3 development, which means that the overall longer term big trend is still bullish and medium trend is currently in correction.
E) The wave 5 of 3 will resume right after it crosses $2.05 based on current price structure, and the target for wave 3/5 is $2.40/$2.70.
2. Candle stick trading methodology ( Picture2 ).
A.Yesterday forming doji star which is indecision and the direction will give clear direction by today candle, if today candle close big red and this is an indication of the bull slowing down and entering a most healthy correction phase setting the stage for next sharper n more convincing n massive bull rally.
B.After the correction is over, I believe Vivocom will resume next bull rally to cross $2.00 with conviction and determination before storming upwards onto much higher price levels.
C) I will monitor the present correction phase and will keep my readers posted.
Steady your nerves guys as Vivocom The Surging SuperBull is still very much alive and fearless. Prepping itself for a more aggressive spurt up North sooner than you know.
Related Stocks
| Chart | Stock Name | Last | Change | Volume |
|---|
Market Buzz
More articles on KLSE Technical Analysis
Nov 20th : Market Report on Vivocom. Close $1.74 with volume 68.24m.
Created by mwong3 | Nov 21, 2020
Nov 18th : Market Report on Vivocom. Close $1.86 with volume 33.4m.
Created by mwong3 | Nov 18, 2020
Nov 18th :Morning Session Vivocom cosed $1.83 with volume of 23.1M.
Created by mwong3 | Nov 18, 2020
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Apps
Top Articles
1
https://dividendguy67.blogspot.com
2
4
5
6
7
BFM Podcast
8
Kenanga Research & Investment
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
