Its been quite awhile we have not post any blog on this website.
The last few months, we have been developing some new stuffs for our stock analysis.
Daily chart.
11 April 2018 the stock price broke above all the resistance but failed to rally higher and then It pulled back to a low of RM1.68 on 26 April.
On 14 May 2018. this time stock price after successful broke above all resistance and touched a high of RM2.45 on 7 June before the price correct.
For those who had followed our blog are well aware that S-Trader Trend Tracker been used as one approach to identify support/resistance in relation to price movement.
During our "absence" over the last few months, we have been developing new stuffs and we happy to share the critical support/resistance levels identified using a new approach in our chart analysis.
From the above chart, using the new approach, we identified a critical resistance level @ RM1.90/1.91. This level coincides with our current tool S-Trader Trend Tracker which also identified RM1.901 as immediate resistance level on 8 May.
The next trading day, 14 May, the stock price broke this resistance level with high volume transaction of 9,070,000 shares and rallied until 7 June.
This immediate resistance level identified using two different approaches made this level highly critical in our analysis.
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.
