Looking at the chart for Skygate Solutions Berhad, here's my analysis:
Current Price Action:
- Trading at RM1.03, up 6.19%
- Strong breakout from downtrend
- Price moving above all major moving averages
Technical Analysis:
1. Support/Resistance:
- Major support at RM0.900
- Stop loss level at RM0.130 (12.62% risk)
- Resistance around RM1.04 (recent high)
2. Trading Setup:
- Target price: RM1.26
- Risk/Reward ratio: 1.73
- Position size suggestion: 1538 shares
- Good volume confirmation on breakout
Key Financial Events:
- September 2024: MYR12.577M (+24.29%)
- June 2024: MYR10.119M (+170.49%)
- September 2024: MYR3.583M (-1032.07%)
Volume Analysis:
- Recent volume spike supporting breakout move
- Above average volume indicating strong buying interest
- Money flow indicator turning positive
Trading Considerations:
- Breakout from downtrend confirmed
- Moving averages beginning to turn upward
- Strong momentum with volume support
- Clear risk/reward parameters established
Current Price Action:
- Trading at RM1.03, up 6.19%
- Strong breakout from downtrend
- Price moving above all major moving averages
Technical Analysis:
1. Support/Resistance:
- Major support at RM0.900
- Stop loss level at RM0.130 (12.62% risk)
- Resistance around RM1.04 (recent high)
2. Trading Setup:
- Target price: RM1.26
- Risk/Reward ratio: 1.73
- Position size suggestion: 1538 shares
- Good volume confirmation on breakout
Key Financial Events:
- September 2024: MYR12.577M (+24.29%)
- June 2024: MYR10.119M (+170.49%)
- September 2024: MYR3.583M (-1032.07%)
Volume Analysis:
- Recent volume spike supporting breakout move
- Above average volume indicating strong buying interest
- Money flow indicator turning positive
Trading Considerations:
- Breakout from downtrend confirmed
- Moving averages beginning to turn upward
- Strong momentum with volume support
- Clear risk/reward parameters established
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.