Happy wesak day day ! May this festival bring you healthy , happy and wealthy !
Profitable Trader always stay focus make MONEY! focus when opportunity comes and stay alert the right timing to trade😊
Closing with marubozu candle! More to come? Stay focus profitable trader and make money!
KNM Technical Analysis - Potential Bullish Breakout and Volume Analysis
Summary:
In this technical analysis of KNM, we highlight potential bullish indications as the stock entered Stage 2 on 2nd of June after breaking away from RM0.075. KNM has been trading in a rectangle trading range between RM0.075 and RM0.095. Recently, there was a significant volume spike with a green candle, signaling an attempt to cross the RM0.095 resistance level. Additionally, Volume Spread Analysis indicates a double Point of Control (POC) at RM0.06 and RM0.085, suggesting a healthy marking up of the volume profile. Let's closely monitor its performance over the next two weeks.
Detailed Analysis:
KNM's price action showed a significant breakout on 2nd June after surpassing the RM0.075 level. Since then, it has been trading within a rectangle trading range, with support at RM0.075 and resistance at RM0.095.
The recent bullish signal came with a surge in trading volume, which is a positive sign. This green candle indicates an attempt to break above the resistance level at RM0.095, potentially leading to further price appreciation.
Moreover, Volume Spread Analysis indicates that KNM has established double Points of Control (POC) at RM0.06 and RM0.085. This implies a healthy marking up of the volume profile and indicates strong interest and support from traders and investors.
Considering these technical factors, KNM appears to have potential for a bullish breakout in the near term. However, as with any investment, it's essential to closely monitor the stock's performance and be aware of any market developments or news that could impact the price.
Looking ahead, it is prudent to observe KNM's price action over the next two weeks to assess whether it can sustain its upward momentum and potentially breach the resistance at RM0.095. Traders and investors should exercise caution, employ proper risk management strategies, and consider their own risk tolerance before making any trading decisions.
Please note that the analysis provided here is for informational purposes only and should not be considered as financial advice. The market is subject to various factors, and past performance is not indicative of future results. If uncertain, seek advice from a qualified financial professiona+
Summary:
In this technical analysis of KNM, we highlight potential bullish indications as the stock entered Stage 2 on 2nd of June after breaking away from RM0.075. KNM has been trading in a rectangle trading range between RM0.075 and RM0.095. Recently, there was a significant volume spike with a green candle, signaling an attempt to cross the RM0.095 resistance level. Additionally, Volume Spread Analysis indicates a double Point of Control (POC) at RM0.06 and RM0.085, suggesting a healthy marking up of the volume profile. Let's closely monitor its performance over the next two weeks.
Detailed Analysis:
KNM's price action showed a significant breakout on 2nd June after surpassing the RM0.075 level. Since then, it has been trading within a rectangle trading range, with support at RM0.075 and resistance at RM0.095.
The recent bullish signal came with a surge in trading volume, which is a positive sign. This green candle indicates an attempt to break above the resistance level at RM0.095, potentially leading to further price appreciation.
Moreover, Volume Spread Analysis indicates that KNM has established double Points of Control (POC) at RM0.06 and RM0.085. This implies a healthy marking up of the volume profile and indicates strong interest and support from traders and investors.
Considering these technical factors, KNM appears to have potential for a bullish breakout in the near term. However, as with any investment, it's essential to closely monitor the stock's performance and be aware of any market developments or news that could impact the price.
Looking ahead, it is prudent to observe KNM's price action over the next two weeks to assess whether it can sustain its upward momentum and potentially breach the resistance at RM0.095. Traders and investors should exercise caution, employ proper risk management strategies, and consider their own risk tolerance before making any trading decisions.
Please note that the analysis provided here is for informational purposes only and should not be considered as financial advice. The market is subject to various factors, and past performance is not indicative of future results. If uncertain, seek advice from a qualified financial professiona+
Alibaba US : The stock experienced a significant peak at $320 in October 2020, followed by a sharp decline to a low of $57.3 in October 2023. However, it appears that a bottom was established at $57, as evidenced by the recent rebound to $121, followed by a sideways correction. The daily chart's Elliot wave analysis indicates that wave 2 correction ended at $80, and wave 3 is currently under development. The confirmation of wave 3 will occur when the price breaks away from the $121 level, potentially targeting $138/$176/$238.
Zooming in on the 4-hour chart, a very bullish chart pattern emerges, with Elliot wave 3 of 3 indicating an upward trend. The 2 wave degree is pointing upwards, with targets at $109/$112/$125. Key support levels are identified at $90/$86/$78, while immediate resistance levels stand at $121/$137/$176.
Based on this analysis, a potential trading/investment plan could be as follows:
Long-term Investment: Considering the potential wave 3 development and higher targets ($138/$176/$238), long-term investors may consider entering a partial position now and adding more upon the confirmation of wave 3 at the break of $121. Patience is essential, and holding for the long-term to capture the higher targets might yield substantial gains.
Short-term Trading: Traders could take advantage of the bullish momentum in the 4-hour chart. They may initiate a position when the price breaks above $121, with targets set at $137 and $176. Trailing stop-loss orders could be placed to protect gains and minimize losses.
Risk Management: As with any investment, risk management is crucial. Determining stop-loss levels based on support zones ($90/$86/$78) can help limit potential losses in case of adverse price movements.
Continued Monitoring: Keep a close eye on the price action and news developments related to the stock to make informed decisions throughout the trading/investment period.
Remember, trading and investing carry inherent risks, and it's essential to conduct further research and consult with a financial advisor before making any decisions. The market is always subject to fluctuations, so flexibility and adaptability are vital in executing the trading/investment plan. Good luck!
Zooming in on the 4-hour chart, a very bullish chart pattern emerges, with Elliot wave 3 of 3 indicating an upward trend. The 2 wave degree is pointing upwards, with targets at $109/$112/$125. Key support levels are identified at $90/$86/$78, while immediate resistance levels stand at $121/$137/$176.
Based on this analysis, a potential trading/investment plan could be as follows:
Long-term Investment: Considering the potential wave 3 development and higher targets ($138/$176/$238), long-term investors may consider entering a partial position now and adding more upon the confirmation of wave 3 at the break of $121. Patience is essential, and holding for the long-term to capture the higher targets might yield substantial gains.
Short-term Trading: Traders could take advantage of the bullish momentum in the 4-hour chart. They may initiate a position when the price breaks above $121, with targets set at $137 and $176. Trailing stop-loss orders could be placed to protect gains and minimize losses.
Risk Management: As with any investment, risk management is crucial. Determining stop-loss levels based on support zones ($90/$86/$78) can help limit potential losses in case of adverse price movements.
Continued Monitoring: Keep a close eye on the price action and news developments related to the stock to make informed decisions throughout the trading/investment period.
Remember, trading and investing carry inherent risks, and it's essential to conduct further research and consult with a financial advisor before making any decisions. The market is always subject to fluctuations, so flexibility and adaptability are vital in executing the trading/investment plan. Good luck!