GENM (4715) - Technical Analysis

Technical Analysis

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1) GENM shares price completed head and shoulders pattern with 282 trading days,

2) There was a breakout on Jan 23, 2020, so we able to calculate the first level of downward satisfaction.

3) The first level of downward satisfaction:

-RM4.000 - RM2.990 = 1.010

-RM2.990 - 1.010 = RM 1.980

4) GENM shares price meets the first level of downward satisfaction, RM1.980 on Mar 13, 2020, but it opened lower at RM1.90 and closed at RM1.980 on the next trading days, Mar 14, 2020.

5) There are two extraordinary day transaction volumes on Mar 20 and Mar 23, 2020, respectively and GENM shares price does not drop further, the lowest level at RM1.830.

1) GENM continued upward trend and completed a bullish rectangle with a breakout on Jun 2, 2020, so we are able to calculate the first level of upward satisfaction.

2) The first level of upward satisfaction:

-RM2.402 - RM1.820 = 0.582

-RM2.201 + 0.582 = RM2.783

3) GENM shares price meets the first level of upward satisfaction on Jun 9, 2020, but we noticed there is a diverging relationship between shares price and trading volumes. Higher shares prices with lower low trading volume. It is highly probable GENM shares price going to test an upward trend.

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