BUKA potentially forming sideways transition Bear to BullJust waiting for swing low (HT) then we'll see what happen next.
Momentum: Potentially forming Hidden bullish divergence
Pattern: Falling Wedge
Bukalapak
IDX:BUKA 18th MARCH 2022The decline in BUKA's share price deepened after PT Goto Gojek, Tokopedia, issued an initial public offering (IPO) prospectus a few days ago. The decline in the share price of PT Bukalapak.com Tbk (BUKA) continued with a correction of IDR 18 (6.52%) to a new all-time low of IDR 258 at the close of the market on Wednesday (16/3/2022).
Despite the decline, foreign investors recorded a net buy of Rp 1.51 B. Even though the target price of BUKA's shares is cut, the target still leaves the potential for large profits. The company's business prospects until 2024 are quite promising, with a CAGR of sales for 2021-2024 of 64.5%.
Sharp Downtrend Moving "BUKA"Just BYE and FORGET till break the top trend line.
1st reason : Sharp downtrend
2nd reason : Always make new low
3rd reason : Bad equity
BUKA: Will it start to BULL?After being quite sometimes in Down Trend, will it be the time for BUKA to craft its path and turn into UPTREND. We may observe the price action and see which scenario will work, 1 or 2.
INDONESIAN UNICORN WILL BACK TO GLORY Kesempatan beli saham Unicorn yang harganya masih dibawah harga IPO.
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Buy Area : 442-476
TP (Target Price) 1 : 525
TP (Target Price) 2 : 625
STOPLOSS : UNDER 426
