Daily chart.
As the stock price moves higher, S-Trader Smart Money Index failed to align with it. Possible sign of smart money are not interested with higher price level.
S-Trader Trend Tracker immediate support level based on yesterday's closing price is RM6.832.
Will the price action able to hold above the immediate support zone ?
Note
:
1) "Power Within Metastock"
2) S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
Over the years, we have developed countless indicators/tools on metastock platform to test various markets - equities, commodities, indices future and forex. Those indicators/tools shared on our blog only represented a small part of S-Trader database tools. There are many more to it. Due to its proprietary and confidentiality, we keep it for our personal use only.
Metastock not only provides a platform for development but also comes with many powerful tools and features that allow traders/investors to "seize" to their advantage. Unfortunately, they failed to do so.
Are you one of them ?
The last 10 years, we have seen many trading systems been promoted and marketed in Malaysia. You will be surprised that some of these trading systems were initially developed and tested on Metastock before it migrated to other platforms.
Metastock may not be the most powerful platform but its capability not to be undermined.
For those traders/investors who are still struggling to create/develop a trading system on metastock platform, feel free to Contact Us for more details on our workshop.
(Some S-Trader indicators/tools will be given away free of charge for those who participate the workshop).
In the previous post, we introduced a new approach to identify immediate support and resistance, in addition to our existing S-Trader Trend Tracker.
Since, we have not given it any name and it would be appropriate to do so now.
We shall named it as S-Trader X.
Daily chart.
On 12 July 2018, S-Trader Trend Tracker showed the immediate resistance level at RM2.316 and S-Trader X at RM2.34.
The confluence of these indicators showed a resistance zone formed between RM2.30 to RM2.34.
13 July 2018, the stock price broke above the immediate resistance zone with high level of volume transacted and resumed a new upward rally until 5 Sept 2018 before price reverses.
Note
:
1) If anyone interested for a free 5 days trial of our scan result, keep a look out for our blog post.
2) S-Trader indicators/tools are not part of Metastock software package.
It is our proprietary system/tools. If you have any further inquiries,
please feel free to Contact Us.
