SENHENG buy signal based on MRV1 setup on 5 Jan 24 at RM0.340

1月8日

• Buy signal for SENHENG observed on 5th Jan '24 at RM0.340 based on MRV1 setup.
  
• Support area could be established at equilibrium support area of RM0.325.
  
• Suggested stop loss set lower at RM0.305 to maintain minimum risk of 10%.
  
• Stop loss aligns with next support area based on equilibrium.
  
• Target price set at RM0.410 with a 1:2 risk/reward ratio.
  
• Option to align with equilibrium resistance price area at RM0.415 or adjust risk/reward ratio to 1:1.5 or 1:1.
  
• Expected holding period is about 2-3 months as signal comes from daily chart.
  
• Three resistance areas spotted based on equilibrium at RM0.345, RM0.370, and RM0.390.
  
• SENHENG has been at lowest price range since September last year.
  
• Return to this price area could be interpreted as establishing a base at this price level.
  
• Might not appeal to those looking for quick flip but suitable for those without time to frequently check chart.
  

This information is for discussion purposes only and is not a buy/sell call.