Guan Chong to Test New High after +17% Profit since Confirmed SpGuan Chong moving up nicely in uptrend after a re-accumulation stage in October. The background is relatively strong with long accumulation period since April and several 18 Line Change bars to push above the resistance level.
Currently Guan Chong is testing the new high (resistance level) with an 18 Line Change bar. However, notice the volume (16 November 2018, 4pm) is still low compare to the previous 18 Line Change bar on 12 November 2018. Guan Chong probably will move sideways if it failed to break to new high with low volume. Look for Spring and No Supply signal at the new support level for the potential trade with lower risk.
Disclaimer
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock.
