MYEG (0138) - Technical Analysis

Technical Analysis


- MYEG was getting hot counter in the past week. The only question come to my mind was do we want to rush into the counter as a retail speculator. Let we work it out with simple math to support our thought.

- From Mar 22, 2019 to Oct 14, 2019, vertical volume concentrated at RM1.425 which have a great pressure on MYEG share price.

- Meanwhile, from Oct 14, 2019 to Jan 31, 2020, vertical volume concentrated at RM1.150. It is a great support on MYEG share price. In the past 9 trading days, the highest trading volume at RM1.325.

- With the consideration of triple bottom reversal pattern measurement, MYEG shares price achieved satisfaction of measure level at RM1.440.

- VWAP (Monthly basis) is RM1.271 on Feb 14. 2020.

- With all the measurement above, MYEG upward trend tend to slow down in coming week. If MYEG shares price able to test RM1.260, it will be good for future uptrend.

- Resistance (1): RM1.425 - Resistance (2): RM1.390 - Support (1): RM1.260 - Support (2): RM1.150


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