Important Stocks To Watch - Breakout Stocks/ Important Developments

Long Term Breakouts To Watch

Stocks At 50 MA & 200 MA

Liihen company

by Ben Tan
(KL, Malaysia)

Bought this counter at RM3.52 just a day ago. Apparently, the price has dropped to RM3.42. Just wonder if you could share with me
your expertise on whether there is any upside in this company in near futher?

Thank you

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Jan 15, 2018
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starstarstarstarstar 		Stock At Long Term Support
by: Stephen

I can understand why you bought this counter as it is correcting to weekly long term support. This area is a very strong support.

However, the daily chart has not yet bottomed which is why it is dropping. I think you have entered prematurely.

Stock is at the powerful 200 MA and usually this can help the stock to find support as well.

I cannot see an end to the downtrend yet.

Perhaps if it can form a double bottom and trade back above the daily 50 MA, then im confident it is possible for the stock to move back up.

There is very strong support around 3.00 to 3.30 area. If you wish to hold it the odds of it going back up is quite high.

There is no certainty in trading only probabilities.

Hope this helps.

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