SENHENG buy signal based on MRV1 setup on 5 Jan 24 at RM0.340


  • Buy signal for SENHENG observed on 5th Jan '24 at RM0.340 based on MRV1 setup.
  • Support area could be established at equilibrium support area of RM0.325.
  • Suggested stop loss set lower at RM0.305 to maintain minimum risk of 10%.
  • Stop loss aligns with next support area based on equilibrium.
  • Target price set at RM0.410 with a 1:2 risk/reward ratio.
  • Option to align with equilibrium resistance price area at RM0.415 or 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.
  • Three resistance areas spotted based on equilibrium at RM0.345, RM0.370, and RM0.390.
  • SENHENG has been at lowest price range since September last year.
  • Return to this price area could be interpreted as establishing a base at this price level.
  • Might not appeal to those looking for quick flip but suitable for those without time to frequently check chart.


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