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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Please consider your own interpretation of Opportunity & Risk. The author of this post strictly follows the Malaysian Security Commission ( SC ) Guidelines on the prohibition of Investment Advice by unlicensed parties. Any examples shall use historical charts without any recommendations and not to cause inducement to the public to take action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives. The author will never provide any investment or trading advice as the activity of giving investment advice is likely to be considered as a regulated activity under the Capital Markets and Services Act 2007 ( CMSA ). All posts made in Tradingview do not include any communications involving providing recommendations or opinions or includes any material, content or any statement which are likely to induce a person to take any action or position (e.g. buy, sell or hold) regarding a particular class, sector, or instrument in relation to securities or derivatives that is likely to be considered as “advising others concerning securities or derivatives”. The author will not recklessly make any statement, promise or forecast that is misleading, false or deceptive to induce or attempt to induce another person to deal in securities or derivatives. None of information posted in post can be used as investment decisions. Do not trade solely on the information posted. Trade at your own risk and judgement. A trader could potentially lose all money. Only risk capital that can be lost without jeopardizing ones financial security of lifestyle. Please seek licensed professional guidance if you plan to invest your capital seriously.
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.
