jfapex
Technical Stock Pick - Ewein Bhd
Technical Stock Pick - Ewein Bhd
Closed: RM0.315
Resistance: (R1) RM0.27/(R2) RM0.225
Support: (S1) RM0.37/(S2) RM0.43
Ewein Bhd has been in a downtrend from a high of RM0.69 in May 2019 and hit a bottom of RM0.17 in March. Yesterday, the stock rose 3 sen to RM0.315 to breach the 100-day moving average (pink line).
Technical indicators are healthy with the MACD climbing above its signal line and the RSI is rising towards the overbought zone.
After yesterday’s gains, the stock could pull back but has a chance to extend its rebound should share price sustain above the immediate support at RM0.37. For the downside, we advise traders to cut loss if the price falls below the immediate support of RM0.37, marked by the 50-day moving average (blue line).
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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....
