HENGYUAN REFINING COMPANY BERHADเพิ่มขึ้น
KLSE: HengYuan; 4324
Today, I want to talk about 4324
According to the chart, we can see that there's small accumulation phrase after the big downtrend (with build up) signifies that the big boys are accumulation the shares.
After the accumulation phrase, it broke out bullish and form a descending triangle and broke back down to the support of the accumulation phrase. This shows the basic textbook "resistance turns support" as the price comes back to retest the previous broke out resistance and jump from it.
Will play close attention at this point and will see if the price holds or not.
Will cut lost if the price broke below support @RM5.13
4324According to the chart, we can see that there's small accumulation phrase after the big downtrend (with build up) signifies that the big boys are accumulation the shares.
After the accumulation phrase, it broke out bullish and form a descending triangle and broke back down to the support of the accumulation phrase. This shows the basic textbook "resistance turns support" as the price comes back to retest the previous broke out resistance and jump from it.
Will play close attention at this point and will see if the price holds or not.
Will cut lost if the price broke below support @RM5.13
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