A comeback or a bull trap?
Updated
BUY
- Looks like a healthy uptrend but confirmation is needed at around 6.00 – better entry at 6.00 with sufficient volume
- Bullish flag and breakout at 5.45
- Beware of multiple resistance up north
SELL
- Sell when it breaks the current steep trendline – high chance of consolidate to form a Stage 1/base
RATIONALE
- COVID-19 seems doing a comeback and healthcare related sector is roaring back to life?
- There are multiple necklines to be broken though since double top happened in last October 2020
- Support is at around 4.65 but it can be broken anytime just like the previous one at 6.15
- Swing traders might do well to catch the trends
- Long term traders/investors/those who picked it up at high price – CUT LOSS – to find better chances as it is on a long term downtrend
- Value investing with a paper loss is a waste of the most valuable commodity – TIME
**this analysis is solely for my own references and learning
- Looks like a healthy uptrend but confirmation is needed at around 6.00 – better entry at 6.00 with sufficient volume
- Bullish flag and breakout at 5.45
- Beware of multiple resistance up north
SELL
- Sell when it breaks the current steep trendline – high chance of consolidate to form a Stage 1/base
RATIONALE
- COVID-19 seems doing a comeback and healthcare related sector is roaring back to life?
- There are multiple necklines to be broken though since double top happened in last October 2020
- Support is at around 4.65 but it can be broken anytime just like the previous one at 6.15
- Swing traders might do well to catch the trends
- Long term traders/investors/those who picked it up at high price – CUT LOSS – to find better chances as it is on a long term downtrend
- Value investing with a paper loss is a waste of the most valuable commodity – TIME
**this analysis is solely for my own references and learning
Note
bad sentiment when ASP is announced publicly that it is indeed falling - expected - yet market doesnt buy this
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