Observation:
a) Market Stages:
- Stock is currently in the beginning of Stage 2 (Mark-Up).
b) Trend Line:
- Price traded sideways nearly 4 weeks before moving up, turning Resistance into Support.
c) Price & Volume:
- Price spread is small with very low volume during its sideway move.
- High vol. came when it broke the Resistance, currently turning it into support.
Based on observation, currently price is making a pullback with low volume.
Every trade is 50-50 since no one can predict market movement.
If entry is made, my trading plan would be as follows:
Entry Price: 63.5 sen
Stop Loss: 59.5 sen
Profit Target: 67.0 sen
a) Market Stages:
- Stock is currently in the beginning of Stage 2 (Mark-Up).
b) Trend Line:
- Price traded sideways nearly 4 weeks before moving up, turning Resistance into Support.
c) Price & Volume:
- Price spread is small with very low volume during its sideway move.
- High vol. came when it broke the Resistance, currently turning it into support.
Based on observation, currently price is making a pullback with low volume.
Every trade is 50-50 since no one can predict market movement.
If entry is made, my trading plan would be as follows:
Entry Price: 63.5 sen
Stop Loss: 59.5 sen
Profit Target: 67.0 sen