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Bursa Malaysia Free Trading Education

Author: Deep   |   Latest post: Sun, 18 Apr 2021, 6:26 PM

 

MI (5286) - Chart Analysis and Our Plan

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MI is forming a downtrend chart after the strong rising from January 2021 till February 2021.

  • The share price has been traded below EMA-20 days and MA-70 days.
  • The recent downtrend has broken its support at RM 4.8, RM 4.4 and RM 4.1.
  • The next strong support is RM 3.7 and RM 3.4, failure to find support at this level may accentuate the bearish move.
  • RSI is showing the oversold condition.
  • As mentioned before, we took profit slowly at RM 5.4, RM 5, RM 4.8 and took profit on all remaining 50% shares at RM 4.65 after the quarter result is released. 
  • The share price is moved in my expected direction. Please monitor closely as the share price might reach the entry point for the next plan.

 

 

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