AFFIN (5185): Bullish

Pattern: Rounding Bottom Breakout

Based on AFFIN's weekly chart above, it broke above the neckline (as boxed in blue) of a rounding bottom pattern, which took 2 years to form. The overhead resistance area is boxed in red.

As seen on AFFIN's daily chart, it broke out from the downtrend line in Aug 2016 and subsequently break out from the accumulation zone in early Jan 2017 with strong volume.

There are a number of bullish flag patterns, which are great for scaling in. 

Based on the pattern projection, the immediate target price for AFFIN are 3.40 and 3.75.

I am bullish on AFFIN as long as it is above 2.70.

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.

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Cheers,

Ming Jong

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