P1KX34 trade ideas
POSCO HOLDINGSNice to meet you. SEOVERIGN - This is SeoVerign.
It is seen as an attractive position for POSCO Holdings to buy.
It's based on ELLIOTT WAVE and trend lines and various technical theories.
If it goes as I think, I'll solve it and explain it step by step.
Investment volume, risk management, and investment decisions are your own, so please use them for reference.
I hope you have a good result. Good luck.
PKX longWe see multiple bottom here which may be an indication of strong support.
Given the strong fundamentals and good dividends I am planning to buy and hold it till it reaches previous highs.
And if the company continues performing in the same manner, may even hold it past the 90’s level.
There is a gap to be filled at around 51, so if it goes lower I will re-enter at a later stage.
HUGE W Pattern and extending flagMaybe wait for $71.23, 2nd entry at 50% retrace around $60, next around $51.15, and last entry on support establishment. Death cross last week corresponding with the bull flag. Earning skyrocketed over 300% in 1 year due to massive steel demand (shipbuilding, containers, essentially steel for everything). Anemic PE, PB, very undervalued. 25% future growth, became profitable in '21, solid past performance, financially strong. Listen for geopolitical crap in north Asia coast.
PKXTechnicals and Oscillators are indicating strong buy however my charting says to wait. MACD curling down, RSI indicating a pull back, fib levels indicate a pull back to same zone as the 100 day EMA right at the top of the primary vol shelf. Once it hits those levels I'll look to find indicators on where to buy in.
NYSE:PKX
A trend with Moving AveragesFor trends I use moving averages with my personal setup (nothing special)
between the red line and the blue line is the dynamic support area (Red arrows)
I recommend must wait for the retracement to this zone for a better entry,
I do not use a mechanical system with Indicators and Oscillators, the methodology is discretionary
this gives me freedom to expose my idea, and also allows that different type of traders adopt the idea and use they own system
So, I use dynamic support areas (Red Arrows) combined with the concept of resistance becomes support (Red Horizontal Line)