{SWC}—— OMESTI, Triangle Consolidation Breakout with high volume

14 Oca 2020

Thank you for following us :)

Strategy: Triangle Consolidation breakout with volume

Bias: Bullish. Big spike was seen today and at the same time price breakout the downtrend line and the previous high resistances together.

Target Price: 0.595/0.600

After the breakout, we shall see the price continue to surge to the target price 0.595 which we can compute from the height of the triangle formed as shown in the chart.

Also, based on the fibonacci retracement, the price retraced to 0.382 level with low volume, indicating a healthy retracement. Thus, we shall see the price rise to 0.600, given the retracement level.

Support: 0.530 zone

The immediate support is at 0.540. As long as price maintained above the line, the price is still moving with uptrend momentum.

Remark: Trade your plan; plan your trade!

Please like and share with your friend if you like our idea.

Thanks!

14 Oca 2020

Not

Before reaching the final resistance of RM0.600, there will be immediate resistance RM0.565 and next resistance of RM0.580 in between :) Kindly be reminded on this

15 Oca 2020

İşlem aktif

Broke immediate resistance of RM0.565 :)