Rebound from support and did spring with huge volume. How far can it go?
$SENFONG (5308.MY)$

$SENFONG (5308.MY)$
2024-11-12
Hong Leong Investment Bank

$SENFONG (5308.MY)$ Possible reaccumulation? Wyckoff analysis:
1. Still in trading range
2. Still in uptrend
3. Doing spring in uptrendline? means price go down below trendline, if it go back above trendline, it has possibility to go higher
4. Latest chart is doing bagholding, means buyer enters and hold the price from going down.
5. Nearest support and resistance are the green box, if BO either one of them, possible to continue the direction.

$SENFONG (5308.MY)$
1.Shakeout completed
2.Strength signals as support
3.Holding well above support with low volume
Disclaimer: This post is for informational purposes only. Always consult a financial advisor before making any investment decisions

$SENFONG (5308.MY)$
Seng Fong Holdings Bhd has resumed its upturn having succumbed to profit taking in recent weeks. The rubber processing company’s current upward momentum may continue in the near term.
Shares in Seng Fong rose to their highest in two weeks, after it posted record annual profit. Seng Fong rose as much as 5% or six sen to RM1.25, its highest since July 30, 2024.
Earnings growth will be driven by a gradual increase in capacity and margin expa...

Market Turns Short-Term Bullish
The market has improved to a short-term bullish state, with Market Momentum moving into positive territory and short-term trend strength rising to the 50% level. The medium-term trend is also starting to catch up.
However, the breakout indicator is still lagging, with breakdowns currently outnumbering breakouts.
Additionally, we are seeing increased inflows into poultry-related stocks.
Hot stocks: $SENFONG (5308.MY)$   $SDS (0212.MY)$ $TEOSENG (7252.MY)$ $LHI (6633.MY)$ $PBA (5041.MY)$ $WMG (6378.MY)$
...

POTENTIAL WATCHLIST (2/10/24)
1. $IOIPG (5249.MY)$
2. $SENFONG (5308.MY)$
3. $MNRB (6459.MY)$
4. $SPRITZER (7103.MY)$
5. $PWF (7134.MY)$
- YouTube
YTLPOWR chart analysis video above.
‼️TAKE NOTE‼️
🟡 Watchlist above is NOT buy sell call, but only a monitoring list based on Technical Analysis.
🟡 Trade with your own plan & risk and DO NOT buy in blindly, always set and execute your cut loss / take profit plan, or else market will make you pay for it
🟡 Market tends to be very vo...