HIBISCS - Faces resistance ahead
Comment for weekly chart:
1) TrendX+ indicator - candlestick still swing below trendline, however mid-term trendline has turned green, but it depends on weekly close as it could turn red again
2) DDX+ indicator - the share price moves up in the past few weeks is considered an oversold rebound. Monitor if DDX+ candlestick can breakout red trend cross resistance
3) MCDX+ indicator - banker bar (red) getting stronger when HIBISCS breakout resistance B with high volume showing a strong trend over there, while majority of retailer bar (turquoise) still taking control
4) Lookout for resistance at Neckline A, if HIBISCS fall below Neckline A after a false breakout pattern formed, the TP is 0.605 in the downtrend.
Support & Resistance:
R : Neckline A
S : Point (d) 0.605
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
1) TrendX+ indicator - candlestick still swing below trendline, however mid-term trendline has turned green, but it depends on weekly close as it could turn red again
2) DDX+ indicator - the share price moves up in the past few weeks is considered an oversold rebound. Monitor if DDX+ candlestick can breakout red trend cross resistance
3) MCDX+ indicator - banker bar (red) getting stronger when HIBISCS breakout resistance B with high volume showing a strong trend over there, while majority of retailer bar (turquoise) still taking control
4) Lookout for resistance at Neckline A, if HIBISCS fall below Neckline A after a false breakout pattern formed, the TP is 0.605 in the downtrend.
Support & Resistance:
R : Neckline A
S : Point (d) 0.605
DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
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