Globetronics Technology Bhd (KLSE : GTRONIC - 7022) - Part 2

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.