26 Nov 2020
Vivocom: End of Day Report

Close RM0.805 with 406.1M volume

What a turnaround today was for Vivocom’s shares. The share price closed down by 5c. Yet it was the V-shape classical recovery that had the market taken by surprise and everyone gobsmacked with the astonishing flip flop in market reaction.

Yes the market can be so fickle and ruthless. But today’s Vivocom’s reversal in fortunes was something else altogether especially when the market was awashed with doomsayers: that Vivocom had reached a point of no return.

After two Limit Downs with the third day a circuit breaker at RM0.855, with not a single buyer in Q, today’s buy up rate was an impressive and comforting 45% n 54% for the morning and afternoon sessions respectively. There was even a brief period of panic buying.

Here are today’s highlights :

1. Buying sizzling on 15 min and daily candle !!! What is that? Let study and learn together

2. The meaning of buying sizzling, big hefty Q of sellers was well absorbed during panic selling by investors and position traders, the volume reached a historical high and relative to the last trading session was enormous n most impressively, with an opening price gap down of 16pips followed by a tight trading range, the closing price on par with opening price or higher than opening price was a sign of extreme bullishness in the days ahead.

3. This showed that the overall market is indeed very confident & secured that for Vivocom, the worst has truly bottomed.

4. In morning section with buying sizzling vivid forming on the 15 min candle, it was very solid signal of reversal up candle, which happened right after trading above the 15 min candle high at RM0.73. Another strong indication on today’s 15 min chart which showed the share possibly trending higher at RM0.835 (pic1).

5. Today’s daily candle was a mirror 1st 15 min trading candle ! Total 406.1M volume traded at the 20 cent trading range with green candle ! satisfying all buying sizzling criteria, signalling that the market is overawed with confidence that buying interests from investors and position traders is massive & humongous.

6. The candle closed above 23.6% of today trading range (pic 2) I am confident that VIVOCOM has reached rock bottom already and from tomorrow onward will trade at 50% above today trading range with a hefty uptrend bias

7. My target price projection for tmrw based on Fibonacci is RM0.930/RM1.07/RM1.21

8. My immediate support is RM0.780/RM0.730/RM0.700

9. My immediate resistance is RM0.855/RM0.900/RM1.00

To sum up I would like to add to the above 9 points by reiterating that the panic and force selling is by and large over, finito. Today’s trading activities have ushered a most compelling case of a classical key-reversal of prices in Vivocom.

Such classical key-reversal chart configuration is a very powerful chart signal that confirms that the downward cycle is over and it marks the start of a new trend or cycle which is upwards.

We can look forward to better trading days ahead for Vivocom n dare I say the Bulls shall ARISE again stronger, steadier, more stable and sustainable.

Remember the first week of November when it soared from RM0.48/RM0.75/RM0.88/RM0.98/RM1.19 and finally closed at RM1.00. Just spend a moment reflecting on that. Is the Recovery replicating the same pattern, only time will tell.

Together we are strong. Divided we are weak!





P/S: I have made my trading calls in the past based solely on TA and will continue to do so.

Whatever projections any technical analysts makes can turn out to be absolutely right and it too can also be totally wrong.

I make no apologies.

I am not GOD, and as such, please do not ever refer to me as god. Greatly appreciated.

Stock trading is risk-taking!

If you can’t take risk, it would be best if you don’t trade at all.