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VS Shocking 8% drop in sudden!
$VS (6963.MY)$ It's been a roller-coaster day for VS! It experienced a sharp drop in the morning session but rebounded strongly when the market opened. What's going on?
Here's my top-down analysis for VS:
Weekly Perspective: The price has been in a retracement phase since July'24. The support level at RM0.95 looks strong as it aligns with the FIB0.500 level. This could be the potential for another upward swing when the retracement is completed.
Daily Perspective: On 18 November, the price broke out of a descending triangle pattern, supported by a MACD divergence reversal. This could mark the beginning of a new upward trend. However, today's sharp 8% drop in sudden within a few minutes was shocking!
My Trading Plan: I currently hold a long position, entered right at the breakout, with a set stop loss and take profit level.
Honestly, neither I nor anyone could expected such a sharp drop. Therefore, I've decided to step away and wait for the price to close. If it holds above my stop loss level, which align with a significant weekly support level, I'll stay in the trade. If it fails, I'll exit my position immediately!
Trading without emotion is crucial for every trader. Sudden market movements can easily shake traders out of their positions, but sticking to trading plan helps to mitigate impulsive decisions. By staying disciplined, focused, and flexible, we set ourself up for long-term success!
#VS6963 #Justsharingmythought
Here's my top-down analysis for VS:
Weekly Perspective: The price has been in a retracement phase since July'24. The support level at RM0.95 looks strong as it aligns with the FIB0.500 level. This could be the potential for another upward swing when the retracement is completed.
Daily Perspective: On 18 November, the price broke out of a descending triangle pattern, supported by a MACD divergence reversal. This could mark the beginning of a new upward trend. However, today's sharp 8% drop in sudden within a few minutes was shocking!
My Trading Plan: I currently hold a long position, entered right at the breakout, with a set stop loss and take profit level.
Honestly, neither I nor anyone could expected such a sharp drop. Therefore, I've decided to step away and wait for the price to close. If it holds above my stop loss level, which align with a significant weekly support level, I'll stay in the trade. If it fails, I'll exit my position immediately!
Trading without emotion is crucial for every trader. Sudden market movements can easily shake traders out of their positions, but sticking to trading plan helps to mitigate impulsive decisions. By staying disciplined, focused, and flexible, we set ourself up for long-term success!
#VS6963 #Justsharingmythought
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MJ Chong : because this afternoon dyson says wanna reduce Msia dyson hair dryer business.
then suddenly market feel that VS is diversify customers, not rely on dyson Sales Order therefore, share price recover.
my opinion
MJ Chong : VS Industry on track for a growth spurt in next financial year
and there is new order from existing customer , so recover for reason
Soon Minn OP MJ Chong : Ya, sudden movement is usually driven by fundamentals/news/QR report and so on