MEGB is time to take off ?

In bigger picture MEGB, the downtrend was ended with the spike up(news announce Gary How wanted to buy 600,000 share with RM1.1) which were break the lower high and stopped the lower low formation.

In Daily outlook, wave 2 was ended with double ZZ,  wave 3 is just started with the prices action break the latest lower high(Arrow pointed to wave 3 higher than wave b) right after new CEO appointed to Gary how, prices now rest on the 0.415 support line, which is the best area to buy in... I was in average price on 0.430... expected the prices will pick up in this two week time.  target price is 0.51...

Why we used technical analysis in stock market, future , forex market and etc... ?one of the reason is because the chart formation of each counters will have similar(not 100% match) characteristic and will repeat and repeat ... 

Refer to the technical chart below is the Yee Lee Corporation berhad technical chart, that is the spike up(wave 1 red front) was breaking the recent lower high. It is similar to the MEGB spike up after recent announcement ( RM 1.1 option price…). It clearly tell us the down trend is over and wave 1 up trend confirm



Pls look at the second chart, I put MEGB chart on the Yee LEE chart with the red box indication . it try to tell us where we(MEGB) are??? As I mention , wave 2 ended with double ZZ(WXY), both MEGB and Yee Lee have similar signature…

What happen next after the wave 2 down trend consolidation ? You can see by you eye on Yee Lee Chart … some one ask what is the next price will be? Look at what is the latest prices ?

Again we can said the past history may not represent the future results!!! That is absolute truth … we got to know trading we are deal with the probability game … we have high % of winning compare to betting on the big small.

Good luck every one … trade base on what you affordable to commit...

Pls left question and comment !!! I willing to spend time to answer the question you had and we can learn technical trading together... important is the post I make is in "real time" meaning is prices is not yet move...

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