GUAN CHONG BHD
Long

GCB wave 3, should enter before this

52
Looking at the chart for Guan Chong Berhad, here's my analysis:

Current Price Action:
- Trading at RM4.11, up 5.12%
- Currently in an uptrend following bottoming pattern
- Price above all major moving averages

Elliott Wave Analysis:
- Completed waves i through iv
- Currently in wave v of the upward move
- Potential target around RM4.32 (wave v projection)

Key Technical Levels:
1. Support:
- Strong support at RM3.68 (0.382 Fibonacci)
- Secondary support at RM3.48 (0.5 Fibonacci)
- Critical support at RM3.29 (0.618 Fibonacci)

2. Resistance:
- Immediate resistance at RM4.26 (recent high)
- Major resistance at RM4.32 (wave v target)
- Previous high around RM4.40

Financial Events:
- September 2024: MYR-436.425M (-6.41%)
- June 2024: MYR-410.132M (+40.40%)
- March 2024: MYR-688.184M (-129189.60%)

Trading Considerations:
- Strong upward momentum
- Volume confirming price action
- Risk/reward favorable at current levels
- Stop loss could be placed below RM3.68

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