SOLUTN trade ideas
SOLUTN - PRICE WILL RETRACE BUT TREND IS NOT OVERSolutn is in an uptrend stock.
Today the price spikes up and hit high of RM1.4. This could mark the end of wave (3) of Elliott wave count and going into wave (4) retracement and consolidation. It is predicted the price will retrace to the level of RM1.2 ~ RM1.25 range and consolidate before the trend will continue to wave (5) to complete wave (iii).
Happy trading to all traders!
Solutn, set your support at 1.200.Very nice shoot except profit taking retracement in the afternoon session.
As long as RSI still above 70 zone is consider healthy. If you are still holding, set your support at 1.200.
If you havent buy, just wait at the next bus stop.
Disclaimer: Trade at your own risk. No buy or sell recommendation here.
SOLUTN - Risk or Reward?Fail:-
- Are revenue and earnings forecast to grow? -Earnings have declined by 50.1% per year over past 5 years
- Is their share price liquid and stable? Highly volatile share price over the past 3 months
Pass:-
- Are they forecast to achieve profitability? Whilst currently unprofitable, they have been profitable on average for the past 5 years
- Are they in a good financial position? Debt level is low and not considered a risk
- Is their dividend sustainable? They do not pay a dividend
- Do they have sufficient financial data available? At least 3 years of financial data is available
Solution VCP TradeDisclaimer: This analysis just serve for sharing purpose and not a buy call purpose.
As you can see above, solution experienced 4 contraction (C1, C2, C3 and C4).
Each contraction is getting smaller and the last contraction is less than 10%. (very important step in VCP)
Contraction less than 10% at the final contraction mean the supply in the market is less.
Whenever huge demand come it, the price will explode.
On 3rd November, price gap up and close with volume that more than previous day. I enter on 3rd Nov 2020.
With the vaccine news and our budget 2021 announced recently, vaccine counter really explode.
I have sold partially at 0.930 with 32% gain.
Bintai has the same pattern, but i pick solution due to it support by its MOU, Private Placement Announcement which seem more realistic for me.
Note:
VCP required patience to wait for the pattern fully developed.
Solutn, 1 or 2?Today Solutn rebound and gap up strong after 4pm, forming a bullish harami. Trend reversal sign (1).
Let's see tomorrow if it can form another bullish candlestick? Or is it just technical rebound only and will fall back and broke below S1:0.555 (2) ? Let's see how it goes...
R1: 0.705, 0.735
R2: 0.870, 0.910
S1: 0.555
S2: 0.370