BENALEC trade ideas
<TradeVSA> Price will mark-up further soon ?Sign of Strength in the Chart
1. Change of trend with high volume
- Downtrend to accumulation
2. Long period accumulation
- shakeout and false breakout spotted in the accumulation.
3. Breaking above accumulation
- Currently price pulling back to support to try seller
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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
<TradeVSA> Benalec is Back!Strength in the chart:
1. Strong accumulation with volume
2. Line Change high volume
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
A Downtrend Continuation? (Benalec Holdings, 5190.kl)Observation (12/4):
Benalec Holdings is one of the construction Companies that is involved in the newly revised ECRL project. Although the price may seem cheap for "investing", we can see that the stock has been on a Downtrend for a long time. Based on analysis at the following Pointer:
A) Price close higher than the last high with ultra high volume. However, price close lower than the previous high.
B) Price tries to move above the high in A but failed. It end up closing on the low. Volume is ultra high as well.
C) Price again tried to move above the high in B but not able to reach it. It closes lower than B.
Conclusion:
As prices high and its closing price keeps going lower, we can interpret it as SM still has no intention to move the price higher. The next few bars is crucial to confirm our interpretation. If it continues to close lower, more downside coming soon; if it moves sideways, there is possibility it will move up.
