CHINHIN Daily Chart
CHINHIN (5273) made a successful breakout of the downtrend line in the latest session with closed above the Fibonacci Retracement level of 50%, indicating some degree of strength for the bull to push the price higher in the next trading days.
However, the price was retreated after tested the 61.8% of Fibonacci Retracement level, which is equivalent to MYR0.850 and closed at MYR0.845.
In case this level is broken above decisively with notable increased in traded volume, foresee a strong bull will lead CHINHIN to test the historical high of MYR0.895.
JAYCORP Daily Chart
JAYCORP (7152) made a successful breakout of downtrend line of the triangle pattern with notable spike up in traded volume in the latest session.
The next target for JAYCORP to test is the strong resistance of MYR1.12 and if this level can be broken above decisively, a strong bull should leads JAYCORP to fly higher.
Good luck and happy trading!
All posts and documents submitted in this blog are solely for open discussion and education purposes only. All recommendations and opinion provided are solely for your consideration only and you should exercise your own judgment in forming your own investment decision(s). Please also be informed that equity investment is risky and we recommend you to conduct sufficient searches for information in addition to referring our recommendations and/or opinion herein, prior to making an investment decision.
You should take full responsibility of your investment decision(s) and we accept no liability whatsoever for any direct or consequential loss arising from any use of our recommendations and/or opinion provided herein or any solicitations of an offer to buy or sell any securities. Comments and opinions forwarded/provided by members/followers of this blog do not belong to the Admin and we take no responsibility of such.
Share on Facebook