BRIS (VCP - 22W 29/5 3T)I bought my positions today
August 21, 2024
Reasons:
1. Low-risk entry point.
2. Confirmed stage 2 uptrend.
3. Has gone through its majority line of supply.
4. Moving on its own drummer, the stock went up +100% in the last three months while the index correcting -3%.
5. High relative strength.
6. Volume dries up as less supply coming to the market.
7. A decent volume on the breakout.
Flaws:
The general market is still at risk of going into a minor correction.
This is a textbook VCP with clear contractions and entry point. The stock closes weak and squat below the buy point which still normal. I like to see if it can holds up and follow through.
BRIS trade ideas
BRIS (Bank Syariah Indonesia)Bullish Trend Continues for BRIS with Correction Towards 2050 Support
BRIS is currently in a bullish phase, characterized by a consistent uptrend. However, the stock is undergoing a corrective movement towards the 2050 price level. Notably, this level coincides with a robust demand zone, reinforced by the presence of the Fibonacci retracement of 61.8%. Additionally, the price is positioned above the 21, 34, and 90-period exponential moving averages (EMA), further enhancing the support at this crucial level.
The correction towards the 2050 support presents an opportune moment for investors to enter or add to their positions in BRIS. The confluence of factors at this level, including strong demand and EMA support, suggests a high probability of a bullish reversal.
Looking ahead, the upside target for BRIS is in the range of 4600 to 4640. This target is derived from a comprehensive analysis of both technical and fundamental factors. From a technical standpoint, the bullish trend is expected to resume once the correction is complete, with the stock poised to surge towards new highs. Additionally, the fundamental outlook for BRIS remains favorable, supported by strong financial performance and positive industry dynamics.
However, it's essential to monitor key resistance levels and market dynamics closely. Potential obstacles to the bullish trajectory could arise from unforeseen economic events or shifts in investor sentiment. Risk management strategies should be implemented to mitigate potential downside risks.
In summary, BRIS is currently undergoing a corrective phase towards the 2050 support level, which presents a compelling buying opportunity. With strong demand and EMA support in place, the stock is poised for a bullish reversal, targeting the range of 4600 to 4640 in the near term.
IDX: BRIS FOR AGUST 2022Medium support at 1560
Strong resistance at 1700
I Prefer Green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: BRIS UNTIL END OF APRIL 2022MEDIUM support at 1560
medium resistance at 1700
I Prefer Green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: BRIS UNTIL NEXT MONTHMedium support at 1560
Strong resistance at 1700
I Prefer green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: BRIS FOR NEXT WEEK 20-25 FEB 2022medium support at 1700
weak resistance at 1850
I Prefer green trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: BRIS FOR NEXT WEEK 06-10 DEC 2021WEAK SUPPORT AT 1850
STRONG RESISTANCE AT 2040
I PREFER YELLOW TRADING PLAN
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.
IDX: BRIS FOR NEXT WEEK 29- 3 DES 2021Strong Resistance at 2040
Weak support at 1850
i prefer red trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not responsible for any trades, and individuals are solely responsible for any live trades placed in their own personal accounts.