Nexgram swingTriangle formation on weekly chart
Price above MA 50
Support : 0.04
R1 : 0.055
R2 : 0.06
MACD above 0.
Awaiting golden cross
NEXGRAM trade ideas
NEXGRAM (Tech) - 2H updateNote.
- Today chart showing NEXGRAM is on bullishness trend over last 2 week rally with no price action.
- Suggestion entry/exit are as per chart. Looks for best position EP
NEXGRAMBackground of company:
provide a wide range of products and services in different business segments. Today The Group involves in businesses such as telecommunication, information technology, property development, industries, and corporate advisory services. Latest, involve in plastic manufacture for medical equipment.
Sentiment:
1) has acquired 65% of Arita Holdings Sdn Bhd (AHSB), which makes plastic materials for the medical equipment market, for RM19.5 million.
2) Nexgram appoints Ottigo as payment collector for Covid-19 screening. Nexgram has secured connectivity in foreign countries and it will be used in Indonesia, Hong Kong, Taiwan, Saudi Arabia and most European countries. Also, it is integrating with international and local hotel and lodging groups to serve as quarantine centres for the ease of travellers, targeted to launch before the end of the year.
Fundamental:
revenue improving
net profit bad record
Technical:
weekly, supported at EMA50: bias buy
Daily, price currently at EMA50 and MidBB: bias buy
H1 and H4 momentum buy to confirm the validity of entry
Conclusion: entry purely based on technical analysis. Fundamental does not provide enough support. but likely to see price goes higher before another pull back.
EP: 0.060
SL: 0.040
TP: 0.120
TAYOR
Bullish divergence ?As we can see, the nexgram stock just break the BOTL and also showing buying strength.
In all indicator, all showing the bullish divergence.
If the price can break 0.05, the strong signal and confirmation the bullish divergence will take over.
NEXGRAM ALREADY START TO REBOUNDBASED ON MACD, WE CAN SEE A GOLDEN CROSS.
PRICE NEED TO BREAK 0.055 FOR BREAKOUT.
TP AFTER BREAKOUT
FIRST TP 0.06
SECOND TP 0.065
THIRD TP 0.075
FIRST SUPPORT 0.045
SECOND SUPPORT 0.040
LAST SUPPORT 0.035
IF PRICE BREAK 0.075, SKY IS LIMITLESS
Nexgram! Worth it...24th July sudden interest really draws other investors to pump their capital into Nexgram and temporarily push the price until 0.070, then at the closed at 0.055. Recent rumors about Tri-G that is Nexgram subsidiary got a contract from the ministry of tourism posted on 24th will surely push the price up again.
Based on my analysis Nexgram is a potential growth and good for mid and long term investment. (FA)
TA:
1. Macd showing great buying interest.
2. Shark loaded
3. the price stop at 0.055 that is the resistance and will become the strongest support on next opening
TAYOR
Disclaimer: this not a buy call and only for educational research
