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Truly a remarkable and memorable week without a shadow of doubt for Vivocom’s shareholders.
What a helluva rollercoaster ride it had been. Today’s powerful rebound rally was technically magnificent.
VIVOCOM trended sharply higher and closed the day near its daily permissible limit- up price of RM1.01, up 20.5 cents on heavy volumes. Buy up rates at 54% also exceeded sell down rate.
That is the way it is in the stockmarket. It’s all about the supply and demand of a stock. The 2-days rebound cum sharp recovery-rally took prices upwards to test and penetrated its 25% recovery price target and closed the day exactly at the the retracement target at RM1.01.
My crystal ball is indicating that this current bullish momentum would fuel another bullish push and take values to attempt its next rebound.
Over the last two days, the total volume swelled to 665 M shares. This indicates that strong positive cash flow has taken place and these strong-hands are looking for further price advances in days and weeks ahead.
At close, the powerful Quantitative Algorithm signals are in bullish divergence and signaled that the cycle is bullish and confirmed that the near term trend is up.
1. A new Bull rally uptrend has just started today ! It will undoubtedly continue on next week and we may never see the price below Rm0.995 after that. It will be last chance for anyone to grab the cheap tickets if it trades below RM1.00 !
2. Vivocom’s surging super bulls have regained the lost battle field of RM1.50/RM2.00 it had ceded the past several trading sessions. Below are the technical highlights :-
A.15/30/60/daily chart showed vivid formation of buying sizzling candle, a very strong indication that the stock had found its bottom and that a fresh new bull trend has emerged across all time frame (TA Chart 1).
B. With today’s daily candle crossing yesterday share price high/Gap down, this confirmed that the stock had found its bottom at the RM0.645 level, and a critical key reversal uptrend has appeared (TA Chart 1)
C. Stock’s DNA, 30 min chart showed very clear evidence that the correction had overpowered five 30 min candles before the next upswing and rally had been officially triggered. This basically indicates to me that the same pattern of uptrend before Vivocom breaks today’s high at RM1.06 will most likely persist. (TA Chart 2)
3. Immediate Support RM1.00/RM0.900/RM0.855
4. Immediate Resistance RM1.13/RM1.22/RM1.40
5. My price target based on Fibonacci retracement will be RM1.17/RM1.34/RM1.50 (TA Chart 3)
In conclusion, never ever quarrel with the market and price charts. They can be bearish today and turn bullish the next day.They are the graphic representation of the psychology of the markets. They don’t tell lies.
Vivocom The SuperBull has returned with a vengeance, evident from the sharp V-shape rebound.
V shape V shape V shape Recovery. It did happen right like I said it would.
It’s so crystal clear that Vivocom is a pure play momentum stock and with the V-Shape recovery, ask yourself if the following is likely to be replicated next week.
Look at the following from Nov 2nd to 6th & 9th/12th:
2 Nov,Vol144M CL RM0.675
3 Nov Vol 61M CL RM0.745
4 Nov Vol 143M CL RM0.92
5 Nov Vol 84M CL RM1.07
6 Nov Vol 151M CL RM1.00
9 Nov Vol 20M CL RM1.02
10 Nov Vol 65M CL RM1.19
11 Nov Vol 112M CL RM1.39
12 Nov Vol 77M CL RM1.44
13 Nov Vol 69M CL RM1.50
Will the patterns or trends be replicated, only time will tell.
V shape V shape V shape Recovery confirmed.
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.
