PTSN trade ideas
PT.Sat NusaPersada,Tbk Bullish Pennant Come AcrossHello Guys,
today i'm gonna charting on $PTSN indonesian stock. it's recent huge gains with almost 600% up in recent months because of it's company fundamental good news which is the company prime export it's smarthome routers to United States according to the last month company news. it's wireless routers can support the realization of smarthome connection that requires high data bandwidth. and also the latest news from $PTSN is the cooperation of a Taiwan-based iPhone manufacturer, Pegatron Corporation, in early January 2019.
let's see how $PTSN technical analysis will go, as you can see on the daily chart, it's gently forming & establishing a bullish pennant while rejected two times in 1480 correction area which i marked with yellow boxes. so i assume it will totally break the pennant soon because it's good both in technical & fundamental. if the second impulse sticking out, it will retest 2200 area which is the previous swing high area. i'm jump aboard the trade, laddering buy at 1485 - 1550 area & will laddering take profits between blue box & green box area which means on 1700 - 2200 area.
but we can't make a 100% prediction on the trade,let's keep on eyes on the support area (cutloose are) at yellow & reed boxes on the chart. because the fundamental news can ruin it, like the US-China war trade & the indonesian presidential elections day on 19th april.
tab like button if like my analysis :)
