PESTECH buy signal based on MRV1 setup on 29 Dec 23 at RM0.325I have a large number of stocks whose momentum readings are still valid during my absence, but I couldn’t find more when I returned. Weird…
The support area could be set at the most recent pivot low of RM0.275. However, this would make my target price based on the risk/reward ratio too high, and I wouldn’t want to hold that long.
I would set the stop loss to RM0.290 (which coincides with the equilibrium support area at the same price level) to adhere to the minimum 10% risk based on the price.
The target price is RM0.395. To maintain a risk/reward ratio of 1:2, you may choose to adjust this to 1:1.5 or 1:1 based on your preference.
The holding period is 2-3 months, as the signal is derived from the daily chart.
The momentum signal was triggered near the equilibrium price area and created an uptrend pattern of higher highs (HH) and higher lows (HL) in the process. A momentum signal at these price areas should be able to confirm the movement. Zoom out the chart to see.
The immediate resistance is at RM0.335 and the next resistance is at RM0.385.
The support zone is at RM0.290 and RM0.2402 follows after.
PESTECH
PESTECH - Falling Wedge FormationPESTECH
Theme: Engineering
Rst: 1.13
Spp: 1.03
Falling wedge formation (impending bullish move), latest candles are surviving at key support 1.03, RSI & MACD are slowly recovering as well
PESTECH DOUBLE BOTTOM BOD STARMYX:PESTECH
DOUBLE BOTTOM
FiFT BOD STAR
TREND SIGNAL TURN GREEN
BANKER 25%
Pestech Triangle BOOverall still an uptrend, bullish and strong bull stock with red EMA20 line is above green EMA50 line and price closed above EMA50. Need more few days to reverse its short term downtrend to break out from its triangle pattern. Can consider entry now as it is closed near to its support 1.135~1.110. Resistances to break 1.245, 1.315 and 1.430. Banker chip at 35%.
PESTECH SLOW TURTLE BOBMYX:PESTECH
INVERSE HEAD AND SHOULDER
TURTLE PRO: UPTREND + BUY ON BREAKOUT
FiFT +VE
MCDX+ BANKER 55%
ATOM BUY
PESTECH - Ready to Depart AgainPESTECH
Rst: 0.81
Spp: 0.78
Second testing of rounding bottom breakout neckline as new support, the forming of doji candle is early indication support is starting to forge at this level. There’s tendency of forming morning doji and gradually push further to MA200.
