Vivocom’s Rally Steady and Calm yet Solidly & Surely Surging Towards RM1.12 and RM1.22 price levels. End of today or tomorrow?

 

2 Dec 2020

Vivocom: Lunch Time Report

 

Morning report on Vivocom Closing Price RM1.09 with volumes 22.5M.

 

Vivocom V-Shape Recovery was further affirmed by its solid, steady and calm rally this morning after a smallish & brief technical correction yesterday.

 

Basically today’s morning session price & volume action have affirmed that Vivocom does indeed have the DNA and enduring power of that of a Rare SuperBull.

 

Vivocom’s Rally this morning was not only calm and solid but very much more confident & matured. It was not rushed or chaotic as if to prove anything. 

 

The steady and calm step by step stairs like ascension was akin to sending an assuring yet powerful message to its followers to stay the course of the current Uptrend Surge for the long term. 

 

“This present Rally is not a sprint but a marathon. Let’s have staying power and enjoy our ride to RM2.00 and higher together calmly and steadily.” 

 

Here are this morning's highlights:

 

1. Vivocom’s price opened with an assuring 4c Gap Up at RM1.10 and 8.6 million shares was traded. A long legged doji candle formation was seen in the 15 min chart, which basically laid down clearly both support and resistance levels at RM1.08 & RM1.13 respectively.

 

 

2. As we can see in the 15 min chart, price traded actively within a short and tight range for the next 135min. This is also an indication that the consolidation phase will be ongoing before the next move upwards. I further observed a very healthy chart pattern formation, which is an “accumulation cylinder with widening mouth”. This is a very bullish pattern which outlines that after a calm and good consolidation period, the next move upwards will be sharp and formidable.

 

3. When Vivocom price trades above RM1.13 and I believed it will, the Rally shall be heading to test RM1.22 and RM1.40 and form a staircase price movement. 

 

4. Support/Resistance/Target 

A. Support RM1.08/RM1.00/RM0.90

B. Resistance RM1.22/RM1.40/RM1.70

C. Target RM1.34/RM1.50/RM1.71

 

I’m definitely seeing a calmer and more matured Vivocom this round with its steady staircase price ascension. 

 

The current Rally is more solid and assured, most definitely a very healthy uptrend that is enduring and lasting.

 

Vivocom, a calmer and more balanced SuperBull is back, for sure this round.