The Alpha Trader


Publish date: Wed, 11 Jan 2023, 12:27 PM
With over 20 years of trading experience in financial markets, this blog is intended to share with fellow traders how I identify good trade setups from a combination of fundamental, technical and situational considerations

Systech Bhd is company involved in e-business solutions and cyber security solutions. Although the fundamentals may not be compelling yet, the technicals of the stock price seem to present an interesting trade setup.


When we drill down on the daily chart, we can see a pivot breakout with volume on the 2 Dec 2022 at RM0.215. This motive was strong enough to take it to a short-term peak of RM0.295 on 9 Dec 2022, with the heaviest daily volume traded for the stock in 2022. Due to the huge volume and magnitude of the move, a retracement was inevitable to digest the overbought conditions and support was found at the pivot breakout point of RM0.215.

I believe we are on the next motive move up with a re-test of RM0.295 likely, with the next daily chart resistance at RM0.33 which represents the high for 2022.

Analysing the weekly chart we see a clear break  of the long-term downtrend line from May 2021 with move above RM0.245. If this is indeed a motive move then it is clear from the weekly chart that a test of RM0.35 to RM0.45 could be on the cards in the coming weeks.


Given the good risk to reward in this trade setup and very constructive chart structure, I believe Systech could present an interesting trade proposition. Just be mindful to put a stop-loss order, if the trade does not work out according to plan.

Disclaimer: This blog is created for sharing of trading ideas only. It is not in any way or form meant to be an inducement or recommendation to buy or sell any stocks. Consult your financial consultant before making any financial investments.

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1 person likes this. Showing 2 of 2 comments


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2023-01-11 12:32


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2023-01-11 16:03

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