A potential long position for TGA stock for long term
Updated
on Friday 14th september 2022, we see the stock reject from price 38249, which it then forms a falling wedge pattern. on Wednesday 23rd of novermber, the stock breaks the pattern to the upside and we get a demand zone which has been re-tested at a 50% level. the stock continues to go up. the stock is rejected at the 32555 resistance level in which it starts to form a retracement pattern which is a potential bull flag. On 14 November until the 1 December, Price made an impulse move to resistance 32568. I am waiting for price to reach my buy area for my move.
Order cancelled
As the price reached the low of the bull flag, it didn't give confirmation with a rejection candle for me to enter, as such I didn't take the trade and the price moved further down to support, I will post an update on my analysis soon.
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