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

Join Dstockmarket Telegram Group

Join Dstockmarket Facebook Page

Technical Analysis Of IWCITY

Technical outlook of IWCITY's stock chart and stock price.

26 November 2019 Tuesday

As usual we will start our analysis with a look at the weekly chart.

The stock has gone through a lot since 2017 but it has never regained its old high.

In early 2019 it tried to move up but encountered resistance at the strong congestion area of 1.25 to 1.50. This is an area that the stock needs to get above if it wants to go back to the old highs.

Currently the stock is resting on a weekly uptrend line. This is what you should watch right now.

As long as the stock stays above this uptrend line then it has a possibility of going up. A drop below this uptrend line will signal weakness.

The chart above is the daily chart of IWCITY.

It is trading above the rising 200 day moving average which is a good thing. It points to a possibility of long term bullishness. The stock has been able to find support at this 200 MA.

The green area is a support area for you to watch.

As long as the stock stays above the rising 200 MA and this green area of support, there is a possibility of it rising.

The fact that the stock broke a daily downtrend line also tells us it wants to start a daily uptrend. Previously it was just drifting lower.

But do bear in mind that the stock has lots of pockets of resistance on the left.

Which is why I believe that even if it rises there will be lots of hindrance that keep it from rising smoothly.

Not a very nice stock for me.

Do try to choose a stock that has a nice uptrend with as little resistance as possible.

  • 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.