FPGROUP TECHNICAL ANALYSISTechnical analysis for FPGROUP Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- In this MTF we can see long-term UTL occur from Jun 2018 candle up to July 2020 candle. Aug 2020-Doji Star candle has give signal the reversal will occur and price has move downward since then. Feb 2021 candle has break the long-term UTL and establishing the downtrend phase.
- Current price candle trend had significance retracement begin from Aug 2020 candle and still continue the downtrend. Latest downtrend movement has break the MTF immediate support at price 0.795. This price action tell the downtrend will continue for much longer period.
- Latest OCT 21 monthly candle shows a a Doji Star candle with very long upper wick accompany by low volume signal possibility of this is Demand Test candle that give positive result. Price will move lower and The Primary Trend-continue downtrend.
2) In Weekly TF
- Retracement has occur from 27 July 2020 until now forming a . This downtrend movement has break the Fibonacci 0.5 and entering Fibonacci 0.68 indicate previous bullish trend is ended and a new downtrend is establishing itself.
- Current weekly price candle trend moves downward forming a Downtrend Channel Pattern accompany by decreasing volume. Current price action also shows the price keep forming a new low along the Downtrend Channel pattern. The highest VAP occur at price 0.770-0.810 will become strong resistance.
- Latest 15 Nov 21 Weekly candle show a small bearish candle accompany by low volume signal low activity occur in this downtrend phase. Price may move lower .
3) In Daily TF
- Overall price action still maintaining the Downtrend Channel pattern with highest VAP in 0.805-0.815 area are considered as strong resistance.
- Current daily price candle trend is move downward in Downtrend Channel Pattern accompany by decreasing volume. Formation of Descending Triangle Pattern occur in this Downtrend Channel Pattern telling us weaken demand and bullish momentum due to increasing selling pressure occur in the market. Price candle may move lower to remove this seller and build up the momentum.
- Latest 19 Nov 21 candle give a Shooting Star candle with significance upper wick accompany by low volume signal possibility of this is Demand Test candle that give positive result. Price may move lower for certain period to remove this seller and build up the momentum. As long the price action maintains the Downtrend Channel, the Secondary Trend: the downtrend movement will continue, and the Primary Trend: downtrend movement will prolong.
*Please take note this idea for learning purposes and NOT A BUY CALL.
Fpgroup
FPGROUP Buying opportunitiesBuying checklist :
1. Daily TF Bank Accumulation.
2. Daily TF Bullish Divergence
3. Daily TF Price close above EMA6
4. 1H TF Price close above EMA50 and testing MidBB
5. MidBB cross EMA50
6. Stochastic Oversold (Continuation Divergence)
Tunggu apa lagi? TAYOR!!
Cut loss when price closes below 0.745
Target Profit when price close below EMA6.
FPGROUP - Closed at Fibo 61.8% resistance levelFPGROUP - 13/05/2020
- Bullish trend is still strong
- MACD and RSI still bullish
- The price closed at 0.765 resistance area which also lines up with Fibo 61.8% retracement level
- Can hold if uptrend support line is not broken
- We may look for upside potential if 0.756 is broken out
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FPGROUP - Seeking Chance To BreakoutLaburlah Technical Coverage (19-APR, Thursday):
FPGROUP
Technical Analysis Breakdown
1. Trend: Still bearish
2. RSI & Stochastic: Mild bull
3. Parabolic SAR: Bullish
4. Resistance: 0.25
5. Remarks: Still below downward trendline
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.
