SMGR completed wave and in progress of ABC waveSMGR look to complete the ABC wave.
I'm not export in wave, just share my personal ideas only.
Hope it works out.
SMGR
SMGR bearish BAT pattern. inline with ABC wave posted earlierSMGR on the way forming the bearish BAT pattern, happens to be inline with completing ABC wave posted earlier. (see earlier post)
Not harmonic or wave expert. Just sharing my personal ideas.
Hope it works out well.
IDX: SMGR Reverse Head n ShoulderTime to wait n see to buy $SMGR on Jakarta Composite Index. $SMGR is a State-Owned Enterprises, bluechip, with a good financial report and it possible to BOOM! in 2022. Lets to tracking on the news and flow of big capital by foreign or domestic.
#DYOR
*not financial advice
SMGR WEEKLY FALLING WEDGE PATTERNThere is Falling Wedge Pattern in both Daily and Weekly chart on this stock.
And the Weekly Stochastic already in oversold area + Bullish Divergence detected too.
Wait until the price breakout the falling wedge pattern to entry.
For me, i will wait until the price breakout the falling wedge and wait the retest or correction done.
Disclaimer ON
SMGR Break Trendline, Upside 40% ?TP 1 : > 10.000
TP 2 : > 12.000
TP 2 : > 14.000
SL : < 7600
Risk In Your Hand
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SMGR TO THE MOON! UPSIDE UPTO 50%! DOUBE BOTTOM POTENTIAL ALERT!3T6 MONTH SWING TRADE SMGR!
BUY IF BREAK AND CLOSE ABOVE 8500!
SUPPORT = 7675 and CL IF CLOSE <7675!
SMGR or PT Semen Indonesia Tbk, commonly known as Semen Indonesia Group, is an Indonesian cement company established in 1957 in Gresik, with the name NV Semen Gresik. In 1991, PT Semen Gresik was the first state-owned company to go public on the Indonesia Stock Exchange.
As a governent company, I think investor and swing trader should consider SMGR. Because, the risk and rewards are so good enough. If you see the volume distribution that happened on last year 2020 (I already circled the volume bar), I think this year is same.
And now, maybe there are many people ask me about their cost operation. The way of coal upside maybe increase their cost because the cost of cement 35% is made by coal. But, you should consider that SMGR have their own coal mining, which is, SMGR already prepare for the worst of expensive coal. And also, SMGR not only use coal for their production. They also use new renewable energy called BIOMASSA.
So, what do you afraid of? The risk is very minimum maybe 3-5% to the bottom, but the upside for the government company is very good upto 50%! REMEMBER THAT THIS IS GOVERNMENT COMPANY!!! THE GOVERNMENT WONT STAY QUIET FOR THIS COMPANY! THE BIGGEST CEMENT FACTORY IN INDONESIA!
GBU AND HAPPY WEEKEND!
