Based on the daily chart, the trend for Dancomech just started turned to bullish. Dancomech have moving sideways in accumulation stage for more than a month with resistance at RM0.495. The bar on 22 Nov broke above the resistance level with widespread bar (18LC) and high volume. This indicate the beginning of mark-up stage.

Few sign of strengths are well spotted too during the accumulation period which show Smart Money are flushing the weak-hand holders and buy at the lower price. Currently Dancomech offer a low risk short-term trade as the chart just turned to mark-up stage.

Based on hourly chart, we spotted 2 buy signals from 18LC with high volume. The 2^nd Buy Signal formed a good setup for those who missed the 1^st entry. Place your stop loss below the Support Level RM0.495 and take profit at the resistance RM0.58.

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Disclaimer

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.