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.
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.
