MYEG (0138): Bullish

Pattern: Cup & Handle Breakout

When I first did my analysis on MYEG as posted on my Facebook page on 2 Feb 2017, the cup and handle pattern is pending to penetrate the neckline, as shown below:

Now, it is time to revisit MYEG as it is about to restart its engine to resume its bull momentum to march towards its target price (TP).

As shown in the daily chart below, MYEG took about 14 months to form the cup and handle pattern and only break out the neckline in March 2017. 

Based on the pattern projection, the immediate target prices for MYEG are 1.97 and 2.15.

As shown in MYEG's weekly chart above, the breakout of the neckline for the cup and handle pattern is accompanied with great volume (as circled in blue). This is a healthy sign to confirm a real breakout as the bull is showing its true intention.

I am bullish on MYEG when it is staying above the neckline.

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.

Topics That You Do Not Want To Miss

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The Trade Management Technique You Need To Know - http://klse.i3investor.com/blogs/candlestick/114496.jsp

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Entry Setup Illustration - http://klse.i3investor.com/blogs/candlestick/113605.jsp

Stop Loss & Safe Trading - http://klse.i3investor.com/blogs/candlestick/113510.jsp

Ultimate Guide For Position Sizing - http://klse.i3investor.com/blogs/candlestick/113061.jsp

Come Up With Trading Ideas & Turn Them Into Investing Ideas - http://klse.i3investor.com/blogs/candlestick/114110.jsp

Cheers,

Ming Jong

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