SunVic Chemical
Good Morning All,
After Dowjones rallied so much yesterday, I decided to re look at all the counters again, technically and I saw something interesting. Yes..Sunvic chemical.
Pure technical/VSA analysis, NO fundamental analysis as this counter fundamentally is not that good and was heavily oversold after its last quarter ( or the quarter before) miserable financial result.
Technically, looking good huh ? =D
If we look at in in details....this is what we got..from a volume-spread analysis POV..
After Dowjones rallied so much yesterday, I decided to re look at all the counters again, technically and I saw something interesting. Yes..Sunvic chemical.
Pure technical/VSA analysis, NO fundamental analysis as this counter fundamentally is not that good and was heavily oversold after its last quarter ( or the quarter before) miserable financial result.
Technically, looking good huh ? =D
If we look at in in details....this is what we got..from a volume-spread analysis POV..
If you look at the 3rd picture, i forgot to add caption on the two yellow lines. Distribution is likely at the upthrust green bar, coupled with high volume. Having said that, the potential resistance level that we might face could be 0.360 - 0.375 instead of the accumulation phase.
As all my previous posts are, they are not a buy/sell recommendations.
Wrong analysis? Probably I saw it too late and is too optimistic about it going further up.
ReplyDeleteNote to myself and all : VSA applied best to a much more liquid stock such as Genting HK, with similar price.