ATAIMS - Trade Within Rising Wedge (Prior Trend Downtrend)Opportunity and Risk
DISCLAIMER: This technical analysis is for educational and informational purposes only. It is based on my personal view of the market from a technical standpoint. None of information posted in this page can be used as investment decisions except for educational purpose only. Do not trade solely on the information posted in this page. Trade at your own risk and judgement. A trader could potentially lose all money. Only risk capital that can be lost without jeopardizing ones financial security of lifestyle. Please seek licensed professional guidance if you plan to invest your capital seriously.
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ATAIMS trade ideas
Time to accumulateTechnical Analysis (Neutral - positive bias)
ATA IMS remains in sideways/bearish bias after failed in an attempt to continue its bull run. Nevertheless, it is good time to accumulate as the current price is near to support level 1.23, 1.20.
The stochastic level near to oversold range indicates the current trend (sideways/bearish bias) might be over soon. Stochastic Crossover is required as a bullish signal to change trend.
Fundamental Analysis (Neutral)
ATA IMS is badly hit due to factory closure during the MCO based on result FPE 31 March 2020 and the impact shall remains for FPE 30 June 2020. Despite that, it is still able to record positive earnings. In my opinion, it can witstand the COVID-19 headwinds due to healthy balance sheet (strong cash pile).
ATAIMS - Good risk/reward trade.ATAIMS has a peak of 1.355 and gradually down to 1.21 and got supported at 1.250 without further sell down.
1) It is now breakout from recent downtrend.
2) Got chance to complete a AB=CD pattern at 1.64 level.
3) Good risk to reward ratio. Risk 9 sens for 35 sens gain or more.
4) ATAIMS is good fundamental company.
5) only draw back is vol is still low.
<TradeVSA> No Weakness Yet in ATAIMSStrength Signal in the Chart:
1. Green pentagon
2. High volume
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Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
ATA IMS poised to breakout with a 14% upside?ATA IMS is a contract manufacturer in Malaysia and it is often viewed as a proxy to Dyson Ltd, a British technology company founded by James Dyson in 1991, focusing on design and manufacturing of household appliances.
The share has been in consolidation mode since early April this year and it has been trading above the 52 weeks EMA. It is facing a strong resistance at 1.65. A buy order should be placed at 1.66 with a 3-5% stop loss below. It will have a PT of 1.9 which translate into a potential gain of 14%