Candlestick & Breakout Patterns

TDM Inverted Head & Shoulder Plus Rounding Bottom Broke Out With 3 TP Inside

Ming Jong Tey
Publish date: Tue, 14 Feb 2017, 09:25 AM
Understand the psychology behind the candlestick & breakout pattern will give you an edge to realize why the market does what it does and anticipate opportunities before they happen!

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TDM (2054): Bullish

Pattern: Inverted Head& Shoulder Plus Rounding Bottom Breakout

TDM Weekly Head & Shoulder Pattern

From TDM's weekly chart as shown above, we can notice that it has formed an inverted shoulder-head-shoulder pattern and broke out the neckline in mid of Jan 2017. 

TDM Daily Rounding Bottom

On TDM's daily chart, it just broke out from a nice rounding bottom pattern with projected target price of 0.85, 0.95 and 1.06.

The volume is picking up on the impulsive up-move while decreasing for the corrective move. This is a very healthy and bullish sign for TDM.

The supports for TDM are 0.77, 0.73 and 0.70.

Leave me a comment below and let me know what you think. If you have any queries or want to share the next big stock with me, feel free to contact me via my email or FB page below.

Happy Valentine Day heart

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Ming Jong

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Discussions
1 person likes this. Showing 6 of 6 comments

cephasyu

Good call. I have a strong suspicion that the Q earnings will be very strong due to high CPO prices, high FFB production and the appreciation of the IDR vs the MYR which they have a 300+mil fixed income investment denominated in IDR

2017-02-14 11:20

Ming Jong Tey

@cephasyu thanks for the good information.

2017-02-14 12:41

稻田·* 粒粒芳香

Love ur analysis very much my dear fren.......

once hit 0.850 plss hold it back....... Preserve it to rise further in May................... Not enough capital now.

2017-02-14 12:43

abangadik

aiyor.. kekeke I am ready for some palmoil injection at the hospital liao..

2017-02-14 12:49

Ming Jong Tey

@稻田·* 粒粒芳香 Cheers bro... You help to preserve it lah, haha...

2017-02-14 16:17

Ming Jong Tey

@abangadik Mix it with some steroid to chiong faster :)

2017-02-14 16:18

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