Naked Chart Trading: AGMO 13 Jun 2024
$SNS(0259.MY$ has signed a memorandum of understanding (MoU) with $AGMO(0258.MY$ to explore potential collaboration in digital transformation services.
Under the MoU, SNS Network, a wholly-owned subsidiary of SNS, and Agmo Studio will jointly develop and market Digital Transformation as a Service (DXaaS or DTaaS) for generative artificial intelligence (AI) in Malaysia.
As a result, AGMO extended its gains today with more than 10%. Can it follow the strong rally of SNS and indirectly benefit $MYEG(0138.MY$ as well?
Trend: Hit its high right after IPO, followed by a downtrend and start a rebound trend since Mar 2024. Significant rally since yesterday on the news of cooperation with $SNS(0259.MY$
Fibo Analysis (Sep 2022 high to Mar 2024 low): Rebound and testing 50%, close above Dec 2022 high of around RM0.840 to trigger more upside and high potential to retest RM1 level.
Resistance: RM0.800, RM0.840, RM1
Support: RM0.700 (break below to close gap at around RM0.630), RM0.600, RM0.500
It is the beginning of a rebound trend so far, required more higher highs & lows wave in shorter timeframe (15mins or 1 hour chart) to justify the strength of the rebound
Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Malaysia Head of Dealing
Trading is a mirror that reflects everything about myself
交易就是一面反映自身一切的镜子
3110Followers
62Following
4518Visitors
Follow