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CJCEN IN ABC FORMATION

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MYX:CJCEN   CJ CENTURY LOGISTICS HOLDINGS BERHAD
From 0.440 swing low on 1 July 2021 (Point A), the price rose to a 52-week high at 0.675 (Point B) on 19 November 2021. The price thereafter retraced to fibo618 at 0.530 on 29 November 2021 (Point C) and closed above EMA100. Thereafter, the price retested EMA100 and 0.550 yearly pivot on multiple occasions and crossed fibo50 at 0.560 on 24 December 2021. To enter a trade, the probable EP is 0.550 to retest a yearly support. The probable TP would be 0.630 yearly resistance (on touch-point) which is just above fibo236. The probable CL would be 0.510 which is below the most recent pivot point (i.e., 0.515 monthly support now), S1 and EMA200. This is not an investment call but for study and monitoring purposes only.

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