DNEX trade ideas
Dnex pending breakout?After massive surge in january 2021, price was unable to break the psychology price of RM1.00 resulting in downtrend and sideway until today
Chart making nice flag pattern and break the upper trendline once with volume on 23 sept however fall back immediately after that .
This can be due to US market sentiment
Price further fallback and manage to stop at the lower trend line despite price break down both 20/50MA.
At the moment, if price drop and stay below the lower trend line, counter might go into down trend. Despite that, current price is really a bargain entry point.
Recent FA/QR looks promising.. however the next QR is the one people most anticipate looking forward to see.
Will DNEX reach RM1.00 again?
I let u guys to answer.
CL : price drop below 740
Enter Price (EP) for DNEX?Using Fibonacci Retracement to predict DNEX potential lowest price when the price will rebound back at 0.700. MACD and OBV charts confirmed it is a downtrend pattern. If you want to enter then please consider a short trade bid or Buy Today Sell Tomorrow (BTST). Put DNEX in your WL and watch out for the probability DNEX will rebound back when it hit 0.700.
R 0.835
S 0.770 MA20
DNEX - BREAKOUT SYMMETRICAL TRIANGLEDNEX on long TF has breakout from symmetrical triangle.
RSI is at 80 currently showing it is coming to an overbought.
A short break or accumulation at 0.805 range would be nice for RBS before moving up again.
Current price also is a upper BB showing some might take profit & wait for a pullback at mid BB or RBS. Overall Dnex is still looking good for a long term.
#TAYOR
DNEX ENDING CORRECTION WAVELooks like DNEX is completing the triangle correction pattern after completing wave 5. Observe rebound on the immediate trendline or may rebound on the bottom of the triangle pattern for best entry. Stochastic shows movement towards OVERSOLD area and may create a BULLISH DIVERGENCE once it rebound. TRADE AT YOUR OWN RISK
DNEXSince last year we've seen tech rallies for many tech counters such as UWC, Greatech, Inari, MI, Penta and etc and most of it have achieved more than 100% of ROI if you bought it in early of 2020. The share price have been soared to so high to reflect the current earnings and attractive future prospects in semiconductor industry. If you are still looking for another potential tech counter that can bring you another 100% of ROI, why not just switch your attention to this counter, Dagangan Exchange Berhad or we called it DNEX.
Yes, this counter has been skyrocketing from 0.10 early of this year to current price of 0.81, with highest price done at around 1.00+ due to their acquisition of Silterra Malaysia Sdn Bhd, cooperated with CGP from China funds to win the bid from Khazanah. Another giant company from Taiwan, Foxconn or Hon Hai, the major supplier to Apple Company joined the game by taking up 5% of stakeholding in DNEX at the price of 0.90 per unit of share after they loss the Silterra deal to DNEX.
An interesting fact we can see from Bursa Malaysia, where there is a clear or obvious signal been showing to the market, for example Foxconn buying the shares of DNEX at 0.90, the market reacted immediately with gaping up of share price from 0.85 straight to 0.90+ in next trading day. Well, in this market situation where all the political uncertainties and rising of covid cases in Malaysia, panic buying is never a good thing in the market, especially in Bursa Malaysia. Worsened by conversion of company warrants that offered negative premium, the share price has been pressed down to nearly 0.65 before it rebounded to current price of 0.815.
Okey, now we've know what is happening for the past few months on this share counter, let's move our sight to the latest movement of this counter where we can see the price has rebounded from 0.67 forming higher low and higher high to current price level with support zone in the region of 0.78 -0.80 which can be act as the cut loss point for short term play. However, I do not suggest for any contra trade or short term play in this counter, where we can see the price movement for the past few months, fluctuating above and below EMA 25 & 50 that caused many short term players cut loss their trade position. Hence, I would suggest to hold for long term for this counter (at least 1 year) with high expectation on their semiconductor segment (their have other segments as well like oil and IT, you can check from their website) that high possibility of turnaround of Silterra Malaysia Berhad, with technical support provided by one of the key person from Foxconn further by more and more business that will be brought in by CGP (already announced long term contract value of USD400 mil or RM1.7b, oh please, contract value RM1.7b for a company with current market capital of RM2.5b, are they kidding?! Haha) and I believed more and more contracts will be brought in by CGP and FOXCONN!!. So here is my strategy:
Current Price: 0.815
Target Price 1: 0.90
Target Price 2: 1.00
Target Price 3: 1.50 (Mid - Long Term)
Target Price 4: 2.00 (Long Term)
Support 1: 0.78 - 0.80
Support 2: 0.70
Support 3: 0.65
Support 4: 0.56 - 0.60 (if break and close below, gg and can remove from the watchlist already).
(4456) DNEX Power Up Rally?(4456) DNEX
- Ended 2 months of price retracement
- Price action sustaining above its mid term trend formation.
- Recent breakout of its midpoint price to trigger price action movement.
- Manage loss management inside its retracement zone
- Strict stop loss management at its stop loss noted price.
