04/12/2020 - Technical Update on AGESON BERHAD (7145)

Previously, I had shared on the fundamental perspective and a little touch up on the technical analysis of AGES. Today, I would like to share with you another summary on the technical movement on AGES recently.

This morning, I woke up early to draft a simple chart for my fellow followers on i3investor. And I hope this helps!

Key points to note from the chart:

• You can almost never lose money buying at close to RM 0.120 level. 
• So, smart technical players will queue buy at RM 0.125 level, reinforcing the support level.
• Currently the triangle had shown a strong breakout not by shadow, but body itself, this indicates a bullish signal for short and mid term share price.
• Recently, there are huge volume coming into the company, there must be something brewing about AGES.
• Remember, technical always run ahead of news as people who are aware of the news will buy the shares first.
• From Smart MCDX chart, we note that recently the huge volume is coming back again (refer to the 3/4 part, and look at the rally).
• To conclude, there must be something brewing within AGES and volume is kicking in.
• Someone in the forum is trying to scare investor away from buying it.
• AGES had a very good chance to hit RM 0.150 in short term, and RM 0.185 in mid term!