Based on the daily chart of MNHLDG, the price action is carving out a highly Impulse Wave (Motive Wave) structure according to Elliott Wave Theory.
Following the completion of Wave 1 and a healthy Wave 2 correction that held firmly above the critical RM1.46 support, the market is currently accelerating within a powerful Wave 3. Backed by Fibonacci extension levels, this dominant wave is currently eyeing a primary target around the RM3.30 region.
Identifying these Motive Waves (Waves 1, 3, and 5) is essential for trend followers, as Wave 3 typically represents the strongest and most extended part of the cycle. Looking ahead, once Wave 3 peaks near RM3.30, we anticipate a temporary Wave 4 retracement before a final Wave 5 push towards the long-term target of RM3.81.
This analysis focuses strictly on highlighting the motive sequence. Detailed updates regarding the subsequent corrective structures will only be provided once Wave 5 satisfies the end of its cycle and exhibits clear momentum divergence.
Educational Disclaimer: This chart is for educational purposes and purely based on technical analysis, not a buy/sell call. All entries, stop-loss setups, and RRR are entirely subject to your own risk evaluation. The author assumes no responsibility for market volatility or potential third-party manipulation/pump-and-dump anomalies. Always DYOR.
Following the completion of Wave 1 and a healthy Wave 2 correction that held firmly above the critical RM1.46 support, the market is currently accelerating within a powerful Wave 3. Backed by Fibonacci extension levels, this dominant wave is currently eyeing a primary target around the RM3.30 region.
Identifying these Motive Waves (Waves 1, 3, and 5) is essential for trend followers, as Wave 3 typically represents the strongest and most extended part of the cycle. Looking ahead, once Wave 3 peaks near RM3.30, we anticipate a temporary Wave 4 retracement before a final Wave 5 push towards the long-term target of RM3.81.
This analysis focuses strictly on highlighting the motive sequence. Detailed updates regarding the subsequent corrective structures will only be provided once Wave 5 satisfies the end of its cycle and exhibits clear momentum divergence.
Educational Disclaimer: This chart is for educational purposes and purely based on technical analysis, not a buy/sell call. All entries, stop-loss setups, and RRR are entirely subject to your own risk evaluation. The author assumes no responsibility for market volatility or potential third-party manipulation/pump-and-dump anomalies. Always DYOR.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.