Carimin (5257.KL) to Form Re-Accumulation with Failed Up-Thrust
Carimin daily chart shown 1st Sign of Weakness on 12 December 2018 after the breakout (18 Line Change signal) with +43% gained. We are expecting the stock to reverse after the Up-Thrust with high volume. The subsequent bars didn’t close lower and forming a narrow spread with low volume. Narrow spread bars with low volume is a sign of strength according to Volume Spread Analysis.
Based on the current chart pattern, we notice Carimin is forming a re-accumulation stage. Smart Money tend to test potential seller or supply in this period. We’re expecting the price for Carimin to move sideways and form a shakeout bar (Spring) at the support level.
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Based on the current chart pattern, we notice Carimin is forming a re-accumulation stage. Smart Money tend to test potential seller or supply in this period. We’re expecting the price for Carimin to move sideways and form a shakeout bar (Spring) at the support level.
Send us your preference stock to review based on TradeVSA chart by comment at below.
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
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