Lim's Blog

Revenue Group BHD

Publish date: Tue, 11 Dec 2018, 03:58 PM

A pullback simply represents any price movement that is against the prevailing trend. A pullback is a short-term move in the opposite direction of the longer-term trend. It can offer an opportunity to join the trend without chasing the stock. 

Using Revenue daily chart as example, we have found a pullback trade after the accumulation stage. Based on Volume Spread Analysis, we saw several sign of strengths in the background: 

1. 2 months of accumulation stage with a shakeout below support level 
2. A confirmation of shakeout with Pushing Through Supply on 16 November 2018 
3. Price supported well at previous resistance level on RM1.30 
4. A confirmation of pullback signal with a 18 Line Change with volume 

Stop Loss = $1.37 
1st Target = $1.57 
2nd Target = $1.63 or Sign of Weakness 

This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock. 


Related Stocks
Market Buzz
Be the first to like this. Showing 0 of 0 comments

Post a Comment