ACO buy signal based on MRV1 setup on 5 Jan 24 at RM0.235

8 Jan

• This is actually a repeated signal which was observed on 19 De 23 at the same price based on MRV1 setup.
  
• Support area could be established at equilibrium support area of RM0.210 which is also the suggested stop loss to maintain minimum risk of 10%.
  
• Stop loss aligns with next support area based on equilibrium.
  
• Target price set at RM0.280 with a 1:2 risk/reward ratio or at RM 0.280 to align with equilibrium resistance price area. However, you may also adjust risk/reward ratio to 1:1.5 or 1:1.
  
• Expected holding period is about 2-3 months as signal comes from daily chart.
  
• Nearest resistance to break at RM0.245
  
• Exercise extra caution as this is not a counter with good volume.
  

This information is for discussion purposes only and is not a buy/sell call.