PGAS Elliott Wave CountA very interesting company with quickly declining shareholder count, dropping from 93k holders in September 2024 to just 72k in February, and expected to drop even more this March due to IHSG's performance.
Additionally, foreign investors have been accumulating for the past year, rising from 17% to 21%. To add even more, local retail ownership of the stock has fallen off a cliff, falling from 15% to just 9% in just a year.
I believe we have finished the second wave of wave C. We shall see more improvements in the coming days.
PGAS trade ideas
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.
PGAS Rise Up*PGAS*. Weekly time frame (long term). Ascending triangle pattern. Buy if broke up 1860. TP1 2450, TP2 3050, TP3 (extended) 3380. SL based on theory at 1495, but this is too far below. I would prefer SL at 1780, coz if it down below 1780 it means it dives into the triangle area again, not good, failed to go up. Better exit first, and wait until the next swing low or confirmation from the price action. DYOR ya. Disclaimer on.
PS: ASII also has ascending triangle pattern.
PGAS Jul~Cuation: Last High = Double Top MN
Yelow:
Buy position @1450
RR 1.8
high Possibility continuing CP and going up higher if break 1580.
TP1. 1580
TP2. 1795
TP3. 2150
White:
Buy position @1340~1280
RR 1.8
break last low, high posible HNS
Recommend exit at shoulder @1580 then wait and see
Tp early 1450
Red:
Break Down
Note: cut lost at retracement important level
Disc on
IDX: PGAS UNTIL THE END OF APRIL 2022weak support at 1380
Weak resistance at 1480
I Prefer yellow trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX:PGAS 24th MARCH 2022The increase in world energy prices became the main sentiment for the increase in IDX:PGAS, PGAS is an Indonesian Oil, Natural gas transportation and distribution company.
Technically, PGAS Daily formed the Ascending Triangle pattern, we can clearly see support and resistance. If there is a breakout support area, it is likely to be bearish. however, if there is a breakout resistance area, a bullish trend it reaches target 2 (as highest 2021)
PGAS - Cup and Handle PatternPGAS allows for a cup and handle pattern to occur with the resistance area around 1510-1570. If the resistance is successfully broken, then there is a chance the price will rise to the resistance area at the range 1815-1880, continuing the bullish trend.
#Disclaimer:Not a suggest to buy or sell.
IDX: PGAS FOR NEXT WEEK 20-25 FEB 2022weak support at 1380
weak resistance at 1480
I Prefer green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: PGAS FOR NEXT WEEK 07-11 FEB 2022medium support at 1325
weak resistance at 1480
I Prefer green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: PGAS FOR NEXT WEEK 10-14 JAN 2022medium support at 1325
weak resistance at 1480
I Prefer green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: PGAS FOR NEXT WEEK 29-3 DEC 2021medium support at 1560
weak resistance at 1680
i prefer red trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.