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PTARAS (9598) - Technical Analysis
Historical Movement
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1) After PTARAS shares price completed rising wedge (before Y2013) on May 2, 2013, it started a strong upward trend. Then, it formed a pennant pattern and breakout upper resistance line and the first level of upward satisfaction as: -
- RM2.545 - RM1.485 = 1.060
- RM2.615 + 1.060 = RM3.675
2) In this study case, PTARAS shares price continued to challenge the second level of upward satisfaction at RM4.735 as below (Learning point: Normally, the shares price will have great pressure of retracement after they challenge the second level of satisfaction): -
- RM3.675 + 1.060 = RM4.735
3) With 2 levels of upward satisfaction, PTARAS shares price has great selling pressure to move upward than it formed a big head shoulder and fall out neckline at RM3.845 on Jun 25, 2015.
