VIZIONE 7070 VIZIONE HOLDINGS BERHAD - TECHNICAL OUTLOOK 16th December 2020
Dear readers,
I would like to share with you on my observation on this counter - VIZIONE HOLDINGS BERHAD (7070).
You may consider VIZIONE as one of the construction player, or as one of the newly emerged health care (gloves) player in the market. However, I'm not a fundamental person, so I would like to focus on the technical aspects of the company.
If we were to look at the chart pattern of VIZIONE, we could tell that a descending triangle is forming along the way. A descending triangle is a technical pattern in which the range of price drop is limited to a certain extent; in which, if you will, the level of 40.0 cents is the ultimate support.
From August to December, the market had tested the support 4 times, and every time VIZIONE would rebound after touching the 38.0 cents range.
What does this tells us?
This indicates that investor are finding VIZIONE undervalued, or cheap at the price of 38.0 to 40.0 cents. And if you are mid term investor, you could expect a breakout would occur at any level above 45.0 cents.
Then, it will be the time for VIZIONE to fly.
You may not choose to buy it at 40.0 cents level, but should it drop to 38.0 cents level, it is a bargain and you may collect some along the way.
Technical Support: 380 / 400
Technical Resistance: 430 / 450
P/S: I do not own any shares in the company and this piece serves as my technical trading diary. Cheers.
Market Buzz
16/12/2020 8:49 AM
AAA555 rational !!! low risk , high return.
16/12/2020 10:12 AM
AAA555 comparatively cheap.
16/12/2020 10:20 AM
Jameslee Wah Rubbish stock
Take you to Holland
16/12/2020 8:31 PM
https://klse.i3investor.com/blogs/doatt/2020-12-16-story-h1538224453-VIZIONE_TECHNICAL_OUTLOOK_16th_December_2020.jsp
