Join Dstockmarket's Community - Daily Market Analysis, Individual Stock Analysis.

Join Dstockmarket Telegram Group

Join Dstockmarket Facebook Page

Technical Analysis Of CCK Consolidated Holdings Berhad

Technical outlook for CCK's stock chart and stock price.

22 November 2019 Friday

The last time someone asked me to do analysis on CCK, I actually did the analysis on the US CCK stock LOL.!

In Malaysia there is a stock called CCK as well. So this is it.

Looking at the daily chart, it recently broke out of a daily ascending triangle. This is a good pattern but not a solid one in the context of CCK's stock chart. That's because there was heavy resistance on the left which hindered the effectiveness of the pattern.

The recent breakout and rise and then drop is because the stock needs to absorb the resistance. I think the stock still needs a bit of time to absorb this resistance.

Right now is not a time to buy the stock unless another chart pattern forms. 

But having said that, the stock is now setting itself up for a possible rise in the long term. So you want to put this into your watchlist.

That's because the stock is trying to move back above its daily 200 MA.

The stock has already move back above the daily 20 MA and 50 MA. What you want to see is for the 20 MA to be above the 50 MA and these both MAs above the 200 MA.

Do note that the stock has already started a new daily uptrend but not a powerful one yet.

The weekly chart shows some favourable development.

The stock has broken above a weekly downtrend line. You can also draw a weekly uptrend line to connect the lows. Watch this uptrend line carefully. If the stock is to continue the daily uptrend it will not fall below this uptrend line.

Start looking for continuation patterns and buying the dips. I do not see one now but perhaps one may appear in the near future. So be patient.

  • Help support this page and press the Facebook Like button below. Thanks!

Join Dstockmarket's Facebook Page 

Recent Articles

  1. KLCI Analysis January 2020

    Jan 17, 20 08:05 AM

    Here are the analysis that I do on the KLCI for the month of January 2020. I update them almost everyday so do come back and press the refresh button.

    Read More

  2. US Stock Market Analysis January 2020

    Jan 17, 20 08:04 AM

    In this page, you will find my analysis on the US stock market for the month of January 2020. I update it almost everyday.

    Read More

  3. Trading Tip 2 - Do You Have A Trading Strategy?

    Jan 16, 20 06:39 AM

    If you ask any successful trader, they will tell you that they have a trading strategy and they follow it very well.

    Read More

  4. Trading Tip 1 - Preparation And The Art Of Trading

    Jan 02, 20 11:01 AM

    Welcome to a new series on the art of trading. The year 2020 should be a game changing year for you. If you are interested in the world of trading...

    Read More

  5. US Stock Market Analysis December 2019

    Dec 30, 19 09:23 AM

    In this page, we will have a look at the US stock market and analyze where the SPX might be going.

    Read More

New! Comments

Have your say about what you just read! Leave me a comment in the box below.