FRHC - Freedom Holding Corp Topping.I read about Freedom Holding Corp in the recent Hindenburg Research paper.
It sounded quite alarming, but I was considering ignoring the report for an hour and focusing on my chart analysis.
Here's my analysis:
First of all, this stock appears to resemble one of those Pump & Dump scams. However, let's take a closer look at the chart facts:
THE FORK
...indicates that a climax might be imminent. The price has just reached the Upper-Medianline-Parallel, and the rejection is evident from the candle's wick as of today. It's important to note that this is a monthly chart, and we still have a few days to go!
ZERO TO FIVE COUNT
Even the 0-5 Count suggests a potential 5-High, implying that the peak might have been reached, and a reversal could be on the horizon.
DIVERGENCE DIVERGENCE
Yes, there are two divergences, and they are quite significant!
THE SHARK CANDLE
You might hear a whisper of "...come in, the water is fine" when observing the volume and upward movement in this month's candle. But be cautious – this whisper could be the sharks luring the guppies, only to devour them later. You could end up becoming a feast of "Fish & Chips" §8-)
By now, you probably understand my thoughts and potential plan. I'm leaning towards a short position, but I won't let greed cloud my judgment. This will just be another trade, even though the chart analysis is aligned with Hindenburg Research's findings.
I'll allocate my usual 1% - 2% of my stake for this trade. My aim is to make money, not to become a hero. I intend to continue profiting over the next 20 years (assuming I survive these tumultuous times).
Always remember that markets can remain irrational longer than you can remain solvent.
So, why not savor a good trade and find contentment in a piece of the pie?
§8-)
