Nov 20th : Vivocom Morning Session closed $1.78 with volume 36.5m.
After 3 weeks super bull rally, it’s normal to see heavy profits taking by short term market players.
This has slowed the rally down somewhat but essentially it’s a very healthy retracement as the uptrend is still solidly in tact and the Bulls are still in overwhelming command.
Below are my Technical analysis that Vivocom will likely enter a correction phase before staging an even stronger and more powerful rebound.
1. EW Trading Methodology ( Picture 1)
A) Extended wave 5 no longer valid as the price move down to break $1.80, resulting in Elliot wave directional change,
B) Vivocom has entered back in to wave 4 correction (bigger) and, the wave 4 target is $1.78 and $1.62, which is 23.6% and 38.2% of wave 3 respectively.
C) I am monitoring a new wave structure emerging, a typical case is we should have internal wave ABC correction taking shape but not fully confirmed yet.
D) We are in now Wave 4 of 3 development, which means that the overall longer term big trend is still bullish and medium trend is currently in correction.
E) The wave 5 of 3 will resume right after it crosses $2.05 based on current price structure, and the target for wave 3/5 is $2.40/$2.70.
2. Candle stick trading methodology ( Picture2 ).
A.Yesterday forming doji star which is indecision and the direction will give clear direction by today candle, if today candle close big red and this is an indication of the bull slowing down and entering a most healthy correction phase setting the stage for next sharper n more convincing n massive bull rally.
B.After the correction is over, I believe Vivocom will resume next bull rally to cross $2.00 with conviction and determination before storming upwards onto much higher price levels.
C) I will monitor the present correction phase and will keep my readers posted.
Steady your nerves guys as Vivocom The Surging SuperBull is still very much alive and fearless. Prepping itself for a more aggressive spurt up North sooner than you know.
After 3 weeks super bull rally, it’s normal to see heavy profits taking by short term market players.
This has slowed the rally down somewhat but essentially it’s a very healthy retracement as the uptrend is still solidly in tact and the Bulls are still in overwhelming command.
Below are my Technical analysis that Vivocom will likely enter a correction phase before staging an even stronger and more powerful rebound.
1. EW Trading Methodology ( Picture 1)
A) Extended wave 5 no longer valid as the price move down to break $1.80, resulting in Elliot wave directional change,
B) Vivocom has entered back in to wave 4 correction (bigger) and, the wave 4 target is $1.78 and $1.62, which is 23.6% and 38.2% of wave 3 respectively.
C) I am monitoring a new wave structure emerging, a typical case is we should have internal wave ABC correction taking shape but not fully confirmed yet.
D) We are in now Wave 4 of 3 development, which means that the overall longer term big trend is still bullish and medium trend is currently in correction.
E) The wave 5 of 3 will resume right after it crosses $2.05 based on current price structure, and the target for wave 3/5 is $2.40/$2.70.
2. Candle stick trading methodology ( Picture2 ).
A.Yesterday forming doji star which is indecision and the direction will give clear direction by today candle, if today candle close big red and this is an indication of the bull slowing down and entering a most healthy correction phase setting the stage for next sharper n more convincing n massive bull rally.
B.After the correction is over, I believe Vivocom will resume next bull rally to cross $2.00 with conviction and determination before storming upwards onto much higher price levels.
C) I will monitor the present correction phase and will keep my readers posted.
Steady your nerves guys as Vivocom The Surging SuperBull is still very much alive and fearless. Prepping itself for a more aggressive spurt up North sooner than you know.
Nov 20th : Market Report on Vivocom. Close $1.74 with volume 68.24m.
1) It has now been exactly 3 weeks that Vivocom’s Rally had run. The Uptrend embarked on a very bullish surge up North with no sign of slowing down until its price was met with stubborn resistance at $2.00, with a dogged technical correction on Friday.
Let us read the Technicals & assess together what will be the most likely scenario that will happen next week.
2) EW Trading Methodology
a. Price go in to wave 4 correction zone ( $1.78-$1.62) and forming ABC wave structure, at the same time I observed an alternate wave count appearing with a weak wave 5 .
b. Both wave structures showed a high possibility occurring and validated if price hold above Friday low of RM1.69.
c. My personal view is that the support zone at $1.68- $1.74. price levels will draw in and attract tremendous buying activities, with internal wave structure of support emerging at these levels.
d. I am anticipating a rather complex wave 4 structure developing because the wave 2 correction has been straightforward so far.
e. I am also anticipating extended wave 5 structure to develop, which should occur as we have seen solid wave 1 & strong wave 3 rally for the past 3 weeks.
3.ATR and Beta Value
a. Vivocom Average true range(ATR) is 16 pips with a beta value 4.6. These two indicators basically measure a stock volatility against the KLSE average within a 10%(Risk/Reward) expectation.
It is saying that Vivocom trading range is about 4.6 time higher and more volatile than average KLSE stocks.
b. A stock with low ATR is equal to low opportunity whereas Vivocom’s 16 pips volatility is both healthy and conducive to robust trading which day traders, PDTs, IVTs, Algor players n punters love and adore. It means they can enter n exit with a 16 pips trading range within the same day n make handsome profits each time.
c. I expected Friday’s close to actually be at 1.83/1.85 price level. However due to day traders who collected at 1.70 n taking profits exiting, the closing price finally settled at 1.74.
Therein lies the strength n resilience of Vivocom’s shares, that it can withstand such heavy profits taking onslaught and still rebound to the 1.82/1.85 price levels.
This is a very critical n bullish point as the selling on Friday was not based on weakness, sell to cut loss kind of scenario. It was selling based on strength, exit with profits n renter again based on its high 16 pips ATR.
Based on this observation n backed by my 25 years experience, I remain super bullish on Vivocom resuming its strong rally for next week with both a tenacious n formidable rebound to breach the stubborn hurdle at $2.00 n to head towards 2.15/2.45 by end of next week or the week after.
The Bulls are still dominant in Vivocom with its uptrend intact and solidly constructive. Should weakness presents itself I am will buy at the support level
Go Vivocom go, KLSE SuperBull is still strong n raring to charge up.
1) It has now been exactly 3 weeks that Vivocom’s Rally had run. The Uptrend embarked on a very bullish surge up North with no sign of slowing down until its price was met with stubborn resistance at $2.00, with a dogged technical correction on Friday.
Let us read the Technicals & assess together what will be the most likely scenario that will happen next week.
2) EW Trading Methodology
a. Price go in to wave 4 correction zone ( $1.78-$1.62) and forming ABC wave structure, at the same time I observed an alternate wave count appearing with a weak wave 5 .
b. Both wave structures showed a high possibility occurring and validated if price hold above Friday low of RM1.69.
c. My personal view is that the support zone at $1.68- $1.74. price levels will draw in and attract tremendous buying activities, with internal wave structure of support emerging at these levels.
d. I am anticipating a rather complex wave 4 structure developing because the wave 2 correction has been straightforward so far.
e. I am also anticipating extended wave 5 structure to develop, which should occur as we have seen solid wave 1 & strong wave 3 rally for the past 3 weeks.
3.ATR and Beta Value
a. Vivocom Average true range(ATR) is 16 pips with a beta value 4.6. These two indicators basically measure a stock volatility against the KLSE average within a 10%(Risk/Reward) expectation.
It is saying that Vivocom trading range is about 4.6 time higher and more volatile than average KLSE stocks.
b. A stock with low ATR is equal to low opportunity whereas Vivocom’s 16 pips volatility is both healthy and conducive to robust trading which day traders, PDTs, IVTs, Algor players n punters love and adore. It means they can enter n exit with a 16 pips trading range within the same day n make handsome profits each time.
c. I expected Friday’s close to actually be at 1.83/1.85 price level. However due to day traders who collected at 1.70 n taking profits exiting, the closing price finally settled at 1.74.
Therein lies the strength n resilience of Vivocom’s shares, that it can withstand such heavy profits taking onslaught and still rebound to the 1.82/1.85 price levels.
This is a very critical n bullish point as the selling on Friday was not based on weakness, sell to cut loss kind of scenario. It was selling based on strength, exit with profits n renter again based on its high 16 pips ATR.
Based on this observation n backed by my 25 years experience, I remain super bullish on Vivocom resuming its strong rally for next week with both a tenacious n formidable rebound to breach the stubborn hurdle at $2.00 n to head towards 2.15/2.45 by end of next week or the week after.
The Bulls are still dominant in Vivocom with its uptrend intact and solidly constructive. Should weakness presents itself I am will buy at the support level
Go Vivocom go, KLSE SuperBull is still strong n raring to charge up.
Forwarded from Deleted Account
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Nov 23rd : Morning Session Vivocom closed $1.74 with volume 17.5M.
An upbeat yet lacklustre trading session this morning with Vivocom opening 5 pips Gap Up at RM1.79 n then settling into a consolidated phase in the price range $1.72/1.76.
Here are my observations for the morning session:-
Decoding TAchart(picture 1)
1.Vivocom opened with an impressive 5 pips Gap Up. The gap up was fulfilled after 20min trading, with traders/investors rushing to buy when price retested at support zone 1.68-1.74 and it had been tested twice with a strong rebound and formed a hammer in the 15 min chart than followed by sideways trading, above support zone.
2. In non technical language, this means trader/investors were redefining & resetting market expectation on Vivocom’s baseline price to $1.70. A most acceptable & in fact a healthy price at this level for regrouping n consolidation before relaunching a new high.
By this week or next week, I am quietly confident that a new price baseline will be formed and attempt to scale higher and above $2.00, based on my EW reading.
EW Trading Methodology(Picture 2),
1. wave 4 correction had developed within my expectation, the price correction has stopped at the wave 4 correction zone and also is presently strongly affixed at support zone($1.68-$1.74).
2. I am anticipating Vivocom to enter in to sideways to upswing bias trades in next couple of trading sessions, before developing and forming an extended wave 5 structure.
3. My wave 3/5 remains intact which is $2.40/$2.70 after crossing $2.05 and it could extend higher than existing target ! It depend on the extended wave 5 structure developing.
In short, Vivocom uptrend is still bullish n constructive. In fact, it is quietly/confidently regrouping & consolidating before charting new highs with more conviction n determination.
Vivocom is without doubt a formidable SuperBull raring to charge higher again beyond RM2.05/2.35 price levels.
An upbeat yet lacklustre trading session this morning with Vivocom opening 5 pips Gap Up at RM1.79 n then settling into a consolidated phase in the price range $1.72/1.76.
Here are my observations for the morning session:-
Decoding TAchart(picture 1)
1.Vivocom opened with an impressive 5 pips Gap Up. The gap up was fulfilled after 20min trading, with traders/investors rushing to buy when price retested at support zone 1.68-1.74 and it had been tested twice with a strong rebound and formed a hammer in the 15 min chart than followed by sideways trading, above support zone.
2. In non technical language, this means trader/investors were redefining & resetting market expectation on Vivocom’s baseline price to $1.70. A most acceptable & in fact a healthy price at this level for regrouping n consolidation before relaunching a new high.
By this week or next week, I am quietly confident that a new price baseline will be formed and attempt to scale higher and above $2.00, based on my EW reading.
EW Trading Methodology(Picture 2),
1. wave 4 correction had developed within my expectation, the price correction has stopped at the wave 4 correction zone and also is presently strongly affixed at support zone($1.68-$1.74).
2. I am anticipating Vivocom to enter in to sideways to upswing bias trades in next couple of trading sessions, before developing and forming an extended wave 5 structure.
3. My wave 3/5 remains intact which is $2.40/$2.70 after crossing $2.05 and it could extend higher than existing target ! It depend on the extended wave 5 structure developing.
In short, Vivocom uptrend is still bullish n constructive. In fact, it is quietly/confidently regrouping & consolidating before charting new highs with more conviction n determination.
Vivocom is without doubt a formidable SuperBull raring to charge higher again beyond RM2.05/2.35 price levels.
Elliot Wave Technical Analysis
vivocom: Wave 3 of 3 of 3 emerging ! which is extended wave 3 under development and it is strongest wave degree in elliot wave theory. Candle were break above $0.740 during closing with volume which is confirm wave 3/3/2 emerged, I am looking forward wave…
I am started to share Vivocom @ $0.750 till $2.05 ! I do not make any call buy, sell , Take profit or cut loss call !!! I just share technical reading.