SEALINK buy signal based on MRV1 setup on 4 Jan 24 at RM0.220
This is the first signal following the retracement due to a sudden spike in both price and volume.
The support area could be established at the equilibrium support area of RM0.200.
Suggested stop loss at RM0.195 to comply with the minimum risk of 10% based on the price.
Consider setting the stop loss around the next equilibrium support area at RM0.165 due to the large size of the price candle.
The target price is at RM0.270 with a 1:2 risk/reward ratio, aligning with the equilibrium resistance price area.
The nearest resistance is at RM0.235. Adjust the risk/reward ratio to 1:1.5 or 1:1 based on preference.
The expected holding period is 2-3 months as the signal is derived from the daily chart.
The momentum signal was triggered near the equilibrium support at RM0.165 and broke through the equilibrium resistance-turned support at RM0.200.
An uptrend price pattern of higher highs (HH) and higher lows (HL) has been established.
A momentum signal at these price areas should confirm the movement. For a clearer view, zoom out on the chart.
This information is for discussion purposes only and is not a buy/sell call.
