HIBISCS - Faces resistance ahead

Comment for weekly chart:
1) TrendX+ indicator - candlestick still swing below trendline, however mid-term trendline has turned green, but it depends on weekly close as it could turn red again

2) DDX+ indicator - the share price moves up in the past few weeks is considered an oversold rebound. Monitor if DDX+ candlestick can breakout red trend cross resistance

3) MCDX+ indicator - banker bar (red) getting stronger when HIBISCS breakout resistance B with high volume showing a strong trend over there, while majority of retailer bar (turquoise) still taking control

4) Lookout for resistance at Neckline A, if HIBISCS fall below Neckline A after a false breakout pattern formed, the TP is 0.605 in the downtrend.

Support & Resistance:
R : Neckline A
S : Point (d) 0.605


DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.