THE BEST IN ITS SECTOR, AND IT IS "BEST"Supporing Data:
- Midterm, the structure is still uptrend identified by price still making Higher Low
- 3 Days TF, SR flip has been highlighted in the greenbox
- Several Bull Engulf if zoom in in the daily timeframe (in the zoom between 138-140) concurrent with a setup of retracement
The level of 170 is where the sellers are as the price is difficult to breakthrough these area so it might take another buyer powers waiting at the level of 150 before penetrates through 170.
Long this one!
Ihsg
IDX or IHSG IDEA, FEBRUARY 2021After tapped daily supply at around 6500, it should retrace as this denotes healthy for IDX to have upward movement
This may be how this will play out in my opinion
Retracement to the range of 5717 - 5750 is expected before upward movement. Several data to support the confluences:
- It represents the level of 1H previous supply that has been broken and now act as "S/R flip"
- Green box denotes breaker on 4 HR timeframe
- Concurrent with EMA100 on daily timeframe + EMA200 on 4 HR Timeframe
- Also, on weekly timeframe, we could see EMA20 around that zone
Conclusion : 5717-5750 on first week of february
The next move has been plotted on the chart based on my opinion
Disc on
POWR ROADMAPPOSSIBLE PATTERN :
- ASCENDING SCALLOP
- CUP AND HANDLE
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※ DON'T FORGET TO USE TRAILING STOP 5%
※ ENTRY BUY:
- BUY ON BREAK OUT: 816 - 817
- ENTRY BUY AT RANGE PRICE OF 755 - 785
(CLOSEST RESISTANCE TO BE BREAK IS AT 815)
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※ TARGET PROFIT 1: 865 (FIBONACCI EXTERNAL RETRACEMENT 1 - 1.618)
※ TARGET PROFIT 2: 890 (FIBONACCI EXTERNAL RETRACEMENT 1.618)
※ STOP LOSS: 730
------ DISCLAIMER ON ------
Why Cut Loss in ASII?ASII is a retail favorite LQ45 stocks, including me. But a few days ago, I decided to sell ASII with loss.
Here is the reasons:
1) After bouncing back from support at EMA100 and breaking EMA50, it turned out that ASII was unable to break through to EMA20 and turned back to EMA100.
2) When it fails to break EMA20 at 6275 and then goes down, the chart formation is potential to form a Head and Shoulder pattern.
3) Because ASII is a share held most by foreigners with a proportion of 72% as of 31 January 2021, it is important to look at foreign flows. And it turns out that foreigners have made significant distribution actions.
There is also some speculations spread out in connection with the slump in ASII. There are those who associate it with the collapse of the Cipali toll road, there is also because of foreign broker portfolio rebalancing by exchanging ASII's ownership to BBRI and ANTM (because of MSCI).
Whatever it is, the chart shows a potential for a significant decline, if the HnS scenario occurs.
The decision to sell is a rational decision, as it seems. What you see is what you get.
So Simple!
I will wait for the correction in the area that I have marked on the chart.
@MonsterTurtle
IDX Composite - Take A Breath & Get Back to Running Track SoonHello traders & investors... how are you?
I hope all of you are healthy & prosperous.
Today, I try to capture the movement of IDX Composite for the next 6 months, 'till August 2021.
IDX Composite will tend to move sideways until June 2021 because the FY'20 earnings result might release "as expected", and Indonesia soon will entering the fasting month (mid of April'21), that may reduce daily transaction and drive IDX Composite slightly lower. Thereafter, start in Q3 2021 it will back to move in up trend in the moment of dividend seasons & Q2 2021 GDP release.
Gong Xi Fa Cai!
-AJ-
Potential HnS Chart PatternBBRI has the potential to form a Head and Should chart pattern. By looking at last week's movement pattern where the volume at the break of 4470 resistance was not big enough and the trend decreased afterwards, it would be better to wait for confirmation before entry. Possible short-term movement is still sideways.
From the market maker movement side, BBRI is one of the issuers that foreign hold almost 80%, with an average price of around 4400. Currently, Foreign Flow is increasing by a proportion of more than 20%, meaning that the potential will increase and have been accumulated for a long time.
If you want to entry, it's better to wait until technically confirmed.
Indication of Head and Shoulders Pattern in IHSG (Composite)There are currently head and shoulders pattern in Indonesia Composite Index with 6200 as Left Shoulder and 6200 as potential Right Shoulder if the market couldn't break with good volume at 6200, and 6500 as head price, the neckline is around 5800-5900 and downside potential to 5400 since there's small gap at 9th November or 5200 if you pull a line from head to neckline at 11,28% (IDR 662) *disclaimer on : there are no buy or sell signal
Bearish Divergence on Top of the mountain..I think this is the peak, if not the TOP of the top... I'd take profit immediately and exit because the candles went parabolic, which quite rare this kind of volatility in the stock market.. and to top it off RSI and Money flow keeps going smaller and smaller, while price does not reflect that (keeps going upwards) therefore my sentiment is quite bearish on this peaked, overbought fibo top. In the end, you can't fight GRAVITY.. no matter how good the fundamentals are..