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
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
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
