SOLID IN HARMONIC PATTERNSOLID's current daily chart resembles that of a bearish bat harmonic pattern where a trade could be taken from Point C to Point D. The probable EP is 0.205, the probable TP is 0.260 which is Point D and yearly pivot acting as resistance, and probable CL is below Point A and 52-week low. Critical resistance to cross is 0.245.
SOLID trade ideas
Bearish looks on SOLID AUTOMOTIVE BERHADBursa sentiment is quite weak so far due to political uncertainty.
Solid is categorized as automotive industry which under trader radar now.
Revenue is growing and net profit is improving.
Technical view for Solid is bearish since share price dropped below support (RM0.26)
Showing that big boy is not supporting the share price for now and it could dropped more.
Investor should look for another proper base set up to determine entry point.
SOLID weekly potential upsideSOLID just released an awesome QR report with QoQ: +177% and YoY: +1068%
The price just entered weekly Ichi cloud signalling to start a weekly reversal.
Also has crossed Weekly EMA50 with solidvolumne.
Therefore, SOLID have the potential to go upside.
(Just for research & learning)
SOLID Volume Surge Pattern = Rocket Up Soon?I would like to share my observation in SOLID volume surge recently.
Suspect someone is collecting the ticket with large volume.
After big fund collected enough amount of ticket, ticket available getting lesser (mean supply in the market is lesser), so when demand is high, the share price will rocket up.
If you see the volume comparison back in 2014/2015, the volume spike up for few weeks and then the share price ROCKET up.
Then, the volume has been so quiet since 2015 - 2020. Again, this few weeks the volume is active again.
Is this phenomenon represent that someone collecting and want to push the price up soon?
Let's see.
Strategy:
Entry price: 0.350/0,355
Support: 0.325
Buy at your own risk, just now humble analysis and observation.