PGAS (VCP - 12W 15/3 3T)I bought my positions today
August 19, 2024
Reasons:
1. Low-risk entry point.
2. Confirmed stage 2 uptrend.
3. Has gone through its majority line of supply.
4. Moving on its own drummer, the stock went up +50% in the last three months while the index correcting -3%.
5. High relative strength.
6. Volume dries up as less supply coming to the market.
7. A huge volume on the breakout.
Flawed:
The general market is vulnerable to go into a correction
This is a quintessential VCP, a very proper looking setup. I like to see some follow through action from now.
BBRI in accumulation zone BBRI has been beaten down badly in the last 2 months.
Market fear the increasing NPL and worsen economy but forgetting that BBRI still posted record profit recently. (BBRI has highest profit in Indonesia)
Management also initiated a stock buyback to support the prices.
So, if your stomach can withstand the downturn period for some time, this is the time blue chips can give you massive return in not so distance future.
$WOOD valid breakout on c&h patternSince trading on May 22 until today, Monday, August 19 2024, price movements have formed a cup and handle pattern with the neckline as the basis for price movement resistance for three months which has been breakout today and therefore can be used as a valid bullish signal.
The next movement we can set the target is 304 as the current resistance base with gain profit of 15.69%.
indicator:
- FIB fan speed resistence
- FIB Retracement
$DATA on zero demandIt is clear that the accumulation phase that has occurred since the first week of trading in July 2024 seems to have just finished and now an empty demand zone has been created and will be abandoned by further price movements to find a new demand zone, which is currently at the first resistance as the supply area the nearest one (R1) is 392 to continue to the next supply area (R2) at 466.
There is a strong pin bar to mark the end of accumulation i.e. inverted hammer (arrow)
Buy when there's blood in the streets, SIDO Market Outlook!Here we can see the potential movement for SIDO, I created a downside target as well as an upside target that you can look out for.
for the downside I made a target from the formation of a bull flag pattern, and for the upside target I used fibonaci and also elliot waves.
BIKE - CUP WITH HANDLEI bought the stock
July 8, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has defined a classic C&H formation
4. It moves strong in the opposite side of market direction in its cup development
5. High relative strength
6. Huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment with only 23% of total stocks above the 200-day MA
2. Very less stocks setting up a buy-able area
I'm still trading small until I see some traction in the market. Hence, I like to see some follow through action from now.
PDPP (VCP - 6W 14/4 3T)I bought my positions today
July 11, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through its majority line of supply
4. Moving on its own drummer, the stock went up +88% while the index gone sideways on ytd.
5. High relative strength
6. Volume dries up as less supply coming to the market
7. A huge volume on the breakout
Flaws:
1. The market is still in a hard-penny environment, not much confirmation from the momentum stocks with only 23% of total stocks above the 200-day moving average
2. Very few stocks setting up at this time
I like to see some follow through action from now.