CHGP - Uptrend may EXTEND in near term ?

CHGP - Current Price : RM2.27

CHGP is bullish as the price is above 50 & 200 days EMA. It is currently forming a Bullish Pennant Pattern. Chart Pattern traders may wait for a valid BREAKOUT this pattern to trigger a buy signal.

Based on ICHIMOKU CHART, the stock made a breakout above CLOUD on 22 OCT 2024 which provides a buy signal. CHIKOU SPAN already moving above candlestick (which indicates a bullish scenario). At current moment, CHIKOU SPAN is inside the CLOUD and heading towards its resistance (LEADING SPAN 2 - the upper side of CLOUD). If the CHIKOU SPAN make a new high above the CLOUD, it will strengthen more the BULLISH outlook for this stock. As such, ICHIMOKU CHART traders may wait for the CHIKOU SPAN to break above the CLOUD to trigger a good buy signal.

Notes : CHIN HIN GROUP BERHAD is the largest shareholder of CHGP. Approximately holding 54.94% stake.

交易進行

Today 28 Nov 2024, as we expected CHIKOU SPAN crosses up above CLOUD. Technically its a buy signal for me. I would buy today the stock as both CHIKOU SPAN and SHARE PRICE is currently above CLOUD.

ENTRY PRICE : RM2.17
TARGET : RM2.29 and RM2.41
SUPPORT : RM2.09 (low of 26 NOV 2024)
CUTLOSS : RM2.08 or RM2.07

註釋

In view of chart pattern, it didn't make BULLISH PENNANT as we expected. We may consider it as FALLING WEDGE (BULLISH).