Bullish move takes time to build a stable base
This is a weekly chart of a Malaysian stock, UMW as at 19th June 2022.
From the Support and Resistance line derived from the volume profile, there is a possible bullish rise to 130%.
However, much time is needed to realize such bullish rise.
We make some construction on the market graph, the indicators such as MACD, Stochastic and CMF, we establish a timeline to monitor to what extend the market needs more consolidation to form a stable base to get ready for the bull run.
We will first monitor price action till Oct 2022, about 4 months period, to confirm some downtrend formation for consolidation.
Then we will further closely monitor the market behaviours towards June 2023, i.e. 1 year from now.
Patience is of critical important discipline to follow.
What do you think?
From the Support and Resistance line derived from the volume profile, there is a possible bullish rise to 130%.
However, much time is needed to realize such bullish rise.
We make some construction on the market graph, the indicators such as MACD, Stochastic and CMF, we establish a timeline to monitor to what extend the market needs more consolidation to form a stable base to get ready for the bull run.
We will first monitor price action till Oct 2022, about 4 months period, to confirm some downtrend formation for consolidation.
Then we will further closely monitor the market behaviours towards June 2023, i.e. 1 year from now.
Patience is of critical important discipline to follow.
What do you think?
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.