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GOTO: Price Action Analysis After TikTok's AcquisitionTikTok, owned by ByteDance Ltd., has entered into a significant agreement to invest $1.5 billion in a joint venture with Indonesia's GoTo Group. As part of this deal, TikTok will acquire 75.01% of GoTo's PT Tokopedia for $840 million. This strategic move involves integrating TikTok Shop's Indonesia business into the expanded entity, marking TikTok's return to the e-commerce landscape in Indonesia. The partnership aims to navigate and strengthen the online retail market, presenting a substantial investment by TikTok in the region. The acquisition is set to reshape the e-commerce landscape and boost market competition. The initial market response has been negative, potentially influenced by profit-taking after a strong run-up. Some analysts believe the negative sentiment could stem from concerns regarding the impact of the acquisition on both TikTok and Tokopedia's market positions. Now, Let's delve deeper into the technical analysis of GOTO After facing multiple rejections around a significant resistance area and a dynamic resistance line (EMA 200 Line), the price exhibited the formation of a rising wedge pattern. This pattern, marked by two converging upward-trending lines, saw a subsequent breakout characterized by a bearish Marubozu candlestick and a notable increase in trading volume. This occurrence suggests a continuation of the bearish trend, emphasizing the strong selling pressure in the market. The confirmation of this potential bearish scenario is further supported by the MACD Indicator, which exhibited a death cross. The convergence of these technical signals indicates a robust indication of ongoing bearish momentum toward the target area. It is essential to note that the analysis will no longer hold validity once the target/resistance area is reached. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on IDX:GOTO ." Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
IDX:GOTOShort
by financialfreedomgoals101
MEDC: Repeating Bullish Pattern, Upside Potential +16%?Hi Realistic Traders, let's delve into the technical analysis of IDX:MEDC ! The current market trend for the stock unmistakably showcases a bullish continuation pattern, marked by consistent upward movement above the EMA200 Line, signaling enduring momentum. At the same time, MEDC has formed a descending broadening wedge pattern twice. In December 2023, this pattern served as a catalyst, igniting a bullish reversal or heralding the start of a bullish trend. Yet, the subsequent formation of the descending broadening wedge pattern took on a new significance, becoming a widely recognized indication of ongoing bullish sentiment. What's particularly notable is the recent breakout from the DBW pattern, accompanied by a significant surge in trading volume. This reinforces our confidence in a sustained upward trajectory. Given these compelling indicators, we anticipate an exciting potential upward movement in price. Our analysis points to a designated target ripe for potential gains, making this an enticing opportunity for traders looking to capitalize on market trends. It is essential to note that the analysis will no longer hold validity once the target/support area is reached. Disclaimer: "Please note that this analysis is solely for educational purposes and should not be considered a recommendation to take a long or short position on Medco Energi International." Please support the channel by engaging with the content, using the rocket button, and sharing your opinions in the comments below!
IDX:MEDCLong
by financialfreedomgoals101
Applying Technical Analysis in multiple time frames: $BBNI• Monthly - Trend and momentum using Joe Rabil Method: Price is in presumptive uptrend (step 1 2 3 are complete). - Elliot Wave Method: Mapping 12-(345) - Harmonic Trading Method: Mapping: Bearish Bat (not drawn) • Weekly - Trend and momentum using Joe Rabil Method: a. Price has been in an uptrend since Mar ’20. Price continues making HH & HL and is above 18-week MA and 40-week MA; 18-week MA is rising and above 40-week MA. b. MACD is rising as per price. - Elliot Wave Method: Mapping 1234-(5) - Harmonic Trading Method: Bearish Bat was achieved; next mapping is Bearish Crab (3.618BC is achieved) • Daily - Trend and momentum using Joe Rabil Method: Uptrend and in pullback. MACD DC - Elliot Wave Method: None - Harmonic Trading Method: None • 1H - Trend and momentum using Joe Rabil Method: Price is in transition phase. This analysis is made to track my TA's learning progress, note: HTF is in uptrend but daily TF shows slowing momentum – monitor improvement in 1H TF.
IDX:BBNI
by ysjahrial
Applying Technical Analysis in multiple time frames: $NICE• Weekly – None • Daily - Trend and momentum using Joe Rabil Method: In Transition and leg since 24 Jan ’24 is presumptive uptrend. - Elliot Wave Method: Mapping AB-(C) or 12-(345) - Harmonic Trading Method: Mapping Bearish Bat • 1H - Trend and momentum using Joe Rabil Method: leg since 12 Feb ’23 is uptrend since price continues making HH & HL. Price is above 18MA and 40MA; 18MA is rising and above 40 MA. - Elliot Wave Method: as per daily TF - Harmonic Trading Method: as per daily TF This analysis is made to track my TA's learning progress; my note: monitor MACD 0-line reversal in 10M TF. If it fails, monitor 1H TF.
IDX:NICE
by ysjahrial
Applying Technical Analysis in multiple time frames: $BBCA• Monthly - Trend and momentum using Joe Rabil Method: a. Uptrend since price continues making HH & HL. Price is above 18-month MA and 40-month MA; 18-month MA is rising and above 40-Month MA. b. MACD shows improvement - Elliot Wave Method: - - Harmonic Trading Method: - • Weekly - Trend and momentum using Joe Rabil Method: a. Uptrend since price continues making HH & HL. Price is above 18-week MA and 40-week MA; 18-week MA is rising and above 40-week MA. b. MACD is rising as per price - Elliot Wave Method: - - Harmonic Trading Method: - • Daily - Trend and momentum using Joe Rabil Method: a. Uptrend b. Mapping: pinch setup for pullback. If this fails, will monitor price action when MACD is close to 0-line. - Elliot Wave Method: 5 waves are up. - Harmonic Trading Method: Price touches PRZ of bearish crab. • 1H - Trend and momentum using Joe Rabil Method: a. Price breaks down its uptrend line. b. 18-1H MA crosses down below 40-1H MA and both are down c. Mapping: pullback and currently in presumptive downtrend - Elliot Wave Method: Mapping AB – (C) - Harmonic Trading Method: - This analysis is made to track my TA's learning progress; my note: Target based on Elliot Wave and Harmonic Trading Methods is achieved in daily TF and 1H TF shows a different trend.
IDX:BBCA
by ysjahrial
NCKL Elliott Wave CountAnother nickel-related stock. Earnings wise is quite good compared to MBMA. PE < 10, PBV is still quite expensive. It's very interesting since NCKL's management has set the MHP (Mixed Hydroxide Precipitate), EV battery raw ingredient production to double in 2024. Earnings will get significant boost due to this. Nevertheless, we have to pay attention to nickel price since it has fallen for quite some time. I think it will bottom somewhere in 500-600-ish range. Stay tuned.
IDX:NCKL
by MrSparkles69