Tan Cheong Motor – Breaking out of the major downtrend line
Tan Cheong Motor is likely cementing its bullish reversal at the bottom and is likely to see a strong reversion to the upside. Especially it has broken out of the major downtrend line which started in 2013. Furthermore, the stock has seen buying pressure above the block of support between 0.460-0.625 and has broken out of the immediate overhead resistance (24 Jul -19 Sep 25).
Momentum is strong as modified mid-term Stochastic Oscillator is showing an oversold crossover. 23-period ROC is rising and has turned positive. Volume is expanding steadily, indicating strong bullish pressure. Ichimoku shows a strong two out of three bullish crossover.
Target is at 1.25.
Key major support is at 0.620 and 0.670.
EG GOING FOR MARK UPThis is a Rising Bottom, #2 Schematic of Accumulation
As you can see it, my point of interest would be over the yellow box area
That is where a Feather's Weight formed.
-a series of waves that undergone contraction, making higher high & higher low
Then, Springboard formed afterwrds.
-the final contraction :
(focus on 12th, 17th, 18th stepmber Bar, or Cadnlestick whatever that you prefer)
The bar on 17th Septmber, would be a Local Spring which further triggered me to initiate the position.
Thus, with a trigger bar yesterday, position initiated as attached
*added another position @ 1.30
I was away for some work yesterday didnt manage to update the opportunity as i always did
I pray for your success endeavour, my friends .
DRBHCOM - BREAKOUT EMA 200 with VOLUME !DRBHCOM - CURRENT PRICE : RM0.910
DRBHCOM broke out EMA 200 with high trading volume. At the same time, the stock is also above ICHIMOKU CLOUD. Take note that the lows in price are getting higher - indicating demand is increasing. This bullish scenario is also supported by recent breakout down trendline in RSI oscillator. RSI is rising and currently at 65.54.
Take note also that there is a double bottom chart pattern with the second low is slightly higher than previous low.
There is possibility that the price may trend higher in near term. Rising window low RM0.820 may acts as strong support.
ENTRY PRICE : RM0.900 - RM0.910
TARGET : RM0.980 and RM1.09
SUPPORT : RM0.820
Notes : The company just announced its QUARTER REPORT. For more details, please visit their website. Previously I had wrote technical report for the company (already hit my both targets). I share the link below here.
52week high & all time highThe counter shows the candle just broke the 52 week highand all time high.It is a suitable time o buy because it just breakout from minor consolidation.There is 2 strategy for this type of chart.
Buy on breakout like this candle .
Buy on dip which is to wait until the chart shows minor pullback before trying to go higher.
Thus the strategy for this at the moment is BO:2.55,SL:2.3,TP:2.72
Starting to change phase to mark upFrom the chart shows that the trend is trying to change from downtrend to uptrend.All the indicator positively shows that it will BDTL and change to uptrend slowly. BO:1.75,SL:1.58,TP:1.99
ALong






















