SPRING ART HOLDINGS BERHAD (20-DECEMBER-2020)

The short-term trend has been on down-selling pressure since early December, nevertheless based on the green kumo cloud, the future trend still looks bullish.

Despite the price violated below 20-day EMA, it managed to close at 38.2% FR and briefly above the 50-day EMA.

A hammer Japanese candlestick indicates the price is rejecting to go lower and sends a signal of reversal pattern, coupled with the stochastic indicator is impending to crossover above the oversold area.

EP: 0.365 (penetrating above 20-day EMA and previous candle)

Next R/ TP:
• 0.375
• 0.385 (38.2% FE and ATH)

Support:
• 0.335
• 0.325 (50-day EMA and 50% FR)

Note: This trading idea is for educational purpose only and not to be construed as a buy call. The mantra of TAYOR and caveat emptor shall apply.