PIE - Completion of Rounding BottomPIE
Rst: 1.88
Spp: 1.70
Pending rounding bottom completion, once this is done will unleash further move to Fibo Ext 50%.
P.I.E. Industrial Bhd.
No trades
Trade ideas
19/10/2020 P.I.E - Forming rounding bottom patternToday's daily candle has filled the gap down on 27th Aug. If this daily candle for this week break the resistance 1.75
we can assume rounding bottom pattern is valid and price will continue to climb. Pay attention on volume as well as we need volume more than 1 month average to support
pattern confirmation.
<TradeVSA> Volume Spread Analysis Buy Setup & Signal – 14 Nov1. VSA Setup
2. Accumulation
3. Mark-up (Pullback)
4. 5-days
5. Green Pentagon
Potential Counters:
1. Tashin – Spring
2. JHM – Line Chang
3. Chin Hin – Line Change
4. CAB – Pentagon
5. PIE – Pentagon
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
PIE Corrective movement, Short term; 24 OCTBad market sentiment mainly due to external jitters. Local factor includes 2019 budget tabling in november which might introduces some new unsavory taxes. Looking at wave there is the possibility of downward short-term(C) movement after which comes upward (D) movement before the last corrective wave barring additional negative news. Will it go lower or head towards new high?
SHORT / MEDIUM TERM - PIE BREAKOUT-PULLBACK-CONTINUEPIE a profitable company, has broken out descending triangle chart pattern while RSI is bullish. potential price will attempt R1. If price break above R1, there is potential to reach R2 with sustained momentum. take regular profits, preferably at 50% and 78% from target.
If price failed to break R1, possible it will test S1 and potentially trading sideways.
