GREATEC - FROM BEARISH TO BULLISH ?
GREATEC - CURRENT PRICE : RM2.37
After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging.
Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern.
Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session.
Target Price : RM2.52 and RM2.70
Support : RM2.26 (half candle of today session)
Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best.
TAYOR - TRADE AT YOUR OWN RISK.
After reach the bottom with a bullish HAMMER CANDLESTICK on 16 OCT 2024, the stock broke out of its downtrend in mid October and is building on a trend reversal, suggesting a bullish bias may be emerging.
Based on chart pattern analysis, we can see that there is a DOUBLE BOTTOM pattern. The downward movement from 12 July 2024 have potential of forming V BOTTOM pattern.
Today 06 Nov 2024, the share price make a new 2 month high to closed at RM2.37, supported by strong trading volume. This bullish momentum may propel the share price to move upside in the upcoming session.
Target Price : RM2.52 and RM2.70
Support : RM2.26 (half candle of today session)
Notes : Market reacts positively to Trump’s 'Victory' in Presidential Race. Bursa Malaysia Technology Index made a 6.18% gain on a single day. We hope this positive market sentiment will continue to push technology stocks to upward. Lets hope for the best.
TAYOR - TRADE AT YOUR OWN RISK.
Trade attivo
GREATEC hit our stop loss level on 11 NOV 2024. After hit stop loss level RM2.26, the share price drops below 50-day EMA and ICHIMOKU CLOUD. This two indicator add more bearish scenario for GREATEC. We may switch to uptrending stocks.
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