MY: Sridge Analysis 26.6.23 -Time bombLook like nice chart been made but the scary part, The Dump happened in 2021. Yet the same pattern been seeing again. My hunch / analysis can go wrong but I will take cautious to avoid this counter. Good to ride the wave but if stuck at top, need to cut huge loss.
This is not buy / sell call. DYOR. Happy trading guys.
SRIDGE trade ideas
Is SRIDGE In Uptrend Pattern?After having a breakout (BO) due to significant price movement with volume above MA20. Is SRIDGE can maintain its price momentum and Rally Up to the next price resistance? MACD and OBV charts confirmed, SRIDGE is in a positive uptrend. High probability when MA20 line crosses up MA50 line and the price candlestick above MA50. Then it will be a long position trading. Put this in your WL and watch out for significant price movement and MA20 crosses up MA50 line.
R 0.415
S 0.275
SSsshhhhh.... 🤫🤫SRIDGE was enormously dipped to support level at 0.32, coincides with 200w SMA, after failed to break Fibonacci resistance at 1.05. HH and HL structure indicates that prevailing uptrend is still intact. Hence, support level at 0.32 could be a turning point for further movement to the upside. On daily view, formation of Marubozu candlestick with strong buying volume today strengthen our bullish view. Nearest resistance is seen at 0.49.
Meanwhile, if the share breaches below support level at 0.30, the share may lay down the foundation for a new downtrend and this will cap off the potential further bullish movement.
Disclaimer: No trading strategy provided here. Our content is intended to be used and must be used for technical analysis education purposes only
SRIDGE - Pre Consolidation BreakoutNO INVESTMENT ADVICE IS PROVIDED
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Trading Idea SRIDGE (12/01/2020) Trading Idea SRIDGE (12/01/2020)
Entry: 0.57/0.58
Target: 0.625
Stop Loss: < 0.56 (based on closing)
Investment Period < 1 month
Disclaimer: The above trading idea is intended only for the use of informational purposes. Since the price movement is highly subjected to the stock market sentiment, please do your own analysis before making any investment decision.