QUICK SUMMARY (WITH EXPLANATION) (1H) (Updated)
The only thing i see honestly, is a double bottom or a possible triple bottom. we will know on monday opening. Or in couple of days
QUICK SUMMARY:
Price
RM 1.68 (testing recent support)
Recent Structure
Formed a Higher Low (HL) — first sign of possible reversal
Previous Swing
Lower High → HL → price attempting to hold support
Indicators
Bearish pressure still present, but momentum flattening near support
Key Level
RM 1.68 is acting as support — needs to hold to justify a buy
🔍 What Makes It Interesting Now?
– HL Formation: You're seeing the first potential sign of trend change if price holds and forms a new Higher High (HH).
– Support Zone: It’s currently bouncing at the last swing low, a reasonable area for risk-managed entries.
– Volume & Indicator Compression: Price and indicators are compressing — a move may soon occur.
🎯 Short-Term Trade Setup (Speculative Bounce)
– Entry: RM 1.68 (wait for bullish confirmation candle)
– Stop-Loss: RM 1.66 or below the last low
– Target 1: RM 1.74
– Target 2: RM 1.78–1.81 (swing potential if reversal continues)
– Risk/Reward: ~1:2+
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Discussing
Trump threatens tariffs on EU, how will markets react?
1. How do you think Trump's tariff threats will impact short-term trends in European and U.S. stocks? 2. Amid tariff negotiation uncertainti
Moo Options Explorer
Apr 7 17:28
Weekly roundup: Tariff turmoil and recession fears dominate
AzonAdam OP : Also quite sad SIME dropping this hard. This is quite the bad drop. It's like 2020 all over again.
喜欢你 : hard to break the resistance at 1.82
AzonAdam OP 喜欢你 : generally believing, yes it's hard to push through the 1.81 Major resistance WITHOUT volume, that's why observation needs to be made. if this support is broken. the next Major support like will be 1.65. right now is not really that good because of this factor.
Short-Term Trade Setup (Speculative Bounce)
- Isreal and Iran conflict have caused major panic on the stock market around the world. with many afraid this will escalate. The market is already cautious with trump's tariff. now it's highly likely this will continue until this tension is over .
- Trump's tariff has caused malaysian market to be cautious until further information is provided. SIME is a known to be seriously affected by news and policies.without any good news things can be bad for this stock.
So, What's your approach?
Entry: RM 1.68 (wait for bullish confirmation candle) with good volume
Stop-Loss: RM 1.66 or below the last low
Target 1: RM 1.74
Target 2: RM 1.78–1.81 (swing potential if reversal continues)
Risk/Reward: ~1:2+
nBc : The market already fell sad and down with this automotive stock, all about sentimental & volume