Technical analysis for UNISEM Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- Overall trend still maintaining the long term UTL with price candle stay above along MA 200 line.
- Current price candle trend had retracement and rebound at Fibonacci 0.382 area considered neutral retracement in a healthy trend. Current price candle trend rebound and moves higher with upper wick and below than average volume indicate weaken bullish and facing significance selling pressure.
- Latest OCT 21 monthly candle shows a Hammer candle with long lower wick accompany by high volume signal indicate strong buying pressure give possibility reversal to occur.
2) In Weekly TF
- Overall trend still maintaining the long term UTL and formation of Double Top pattern however the price candle still able to maintain above the neckline.
- Current price candle trend moves in shorter range accompany by average volume with highest VAP in 4.230-4.380 area indicate this is accumulation phase.
- Latest 1 Nov 21 Weekly candle show a Doji Star candle with long upper accompany by average volume signal significance selling pressure occur in the market. Price may move lower in the following week to remove this seller.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and the possibility of Bullish Pennant pattern to occur with highest VAP in 4.195-4.245 area indicate accumulation phase occur.
- Current daily price candle trend is retraced and rebound at Fibonacci 0.382 area are considered neutral retracements in healthy trend. Current price candle in congestion period with price candle move in short range accompany by mix of low & average volume indicate accumulation phase occur in price 4.195-4.245 area.
- Latest 9 Nov 21 candle give a short Hammer candle with lower wick accompany by small volume give possibility this is Testing-Supply candle with positive result. Price may move higher within Pennant pattern to build up the momentum.