(Investors are advised to study the daily regional trend before entering.)
Today, Time announced that its proposal to undertake a renounceable offer for sale its 626.18 million shares in Time dotcom Bhd (TdC) to its shareholders has received the necessary approval.
Time’s price confirmed its reversal by printing a white candle after two black Doji. Based on chart, its price has staged a breakout from its descending triangle pattern and closed above the Middle Bollinger Band with high volume. Other indicators also printed in bullish pattern:
- D Line of MACD hooked up and about to cut its smooth line again.
- RSI returned to neutral area.
- Both oscillators of Stochastic going to leave the oversold level.
- Oscillator of W%R cut its own Average decisively.
The entire scenarios justifies an upward movement is possible. To confirm its reversal price, it must break its immediate resistance at 0.505 tomorrow. Its next resistances are 0.515, 0.530... Strong support is at 0.485. Stop loss should be applied when price fell below 0.475.
Analyzed and Written by Smartbiz (Chart extracted from ChartNexus. Click to view)
Today, Time announced that its proposal to undertake a renounceable offer for sale its 626.18 million shares in Time dotcom Bhd (TdC) to its shareholders has received the necessary approval.
Time’s price confirmed its reversal by printing a white candle after two black Doji. Based on chart, its price has staged a breakout from its descending triangle pattern and closed above the Middle Bollinger Band with high volume. Other indicators also printed in bullish pattern: - D Line of MACD hooked up and about to cut its smooth line again.
- RSI returned to neutral area.
- Both oscillators of Stochastic going to leave the oversold level.
- Oscillator of W%R cut its own Average decisively.
The entire scenarios justifies an upward movement is possible. To confirm its reversal price, it must break its immediate resistance at 0.505 tomorrow. Its next resistances are 0.515, 0.530... Strong support is at 0.485. Stop loss should be applied when price fell below 0.475.
Analyzed and Written by Smartbiz (Chart extracted from ChartNexus. Click to view)
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