CRC | Wave ABCDE Projection | Ascending Triangle Trading Target Price action and chart pattern long term trading setup - catching the impulse 3rd wave extension.
> ABCDE Wave ascending triangle correction during 2nd wave is one of the most powerful that generates maximum profit for traders
> Possible making the final E wave before breakout
> Watch out for dump & pump on the way as prolongation of the E wave.
Target estimated at the length of A wave equals to 1.618 extension or could be an impulse 3 wave - upside +40% at breakout position
Stoploss @ the lowest position of E wave - 10 - 15 % downside
RRR : 4:1 for long term trade
CRC
CRC is looking GOOD in the big tfCRC is the Thailand's leading Department Store and Retailing - if anyone ever visited Thailand will realized that the weather here is D*MNLY HOT - that's why everyone love going to Malls not to buying stuff but mostly enjoying varieties of life style service that Thai's Malls provided.
Fundamental Analysis = As I told u earlier, Malls are like the heart of Thais and people who travel to Thailand, with the expect of much better situation of Covid-19 the got people less worry for and the tourists are now coming back, we can see the potential of "The malls are back" to play. Also to mention, both of its Net income and Revenue are getting back much stronger than the passed 2 years.
** Technical Analysis = As u may see, CRC is now forming kind of Cup with Handle base in TF Week, its Low getting higher with the major resistance at 40 baht. So u may follow buy when it is breaking out (the orange line) and set the stop loss at 37.25 baht (the pink line). Its first target price, sell in half, is at 51.50 baht (the blue line) and the rest go with the flow of EMA20, Worth it :)
Long CRCLong CRC
Entry 1: 11.4; Entry 2: 11.9
Exit 1: 10.8; Exit 2: 9.8
Target 1: 13.5; Target 2: 16.7; Target 3: 22.5
Signal:
+ Bullish divergence from Jul 20 to Jan 21.
+ Upward trending confirmed from Jul 21 to present, price slightly move above 02 MAs.
+ High volume bars breakout POC around 11.5.
CRC don't risk a lot on this one, see commentsHandle risk with caution, weekly timeframe is definetly not what i like so it can turn out to be a loser, but those sometimes turn out to be huge if momentum proceeds so a smaller risk can still do well.
new trend potential if support holds above trading range.