Indorama Ventures PCL ( IVL ) cooling off after big gainsMonstrous rally off of an inverted head and shoulders support. Banking a +- 70 % gain over a 3-4 month period.
Stock seems to be cooling off now, which might indicate some profit taking in order to protect those gains.
No position, with a neutral view. I'll be Watching for downside pressure and might get interested at 23 baht again for a trade.
IVL trade ideas
IVL | Ascending Triangle | Bull Trap - Limited UpsideIVL | Thailand SET Index | Petro Sector | Chart Pattern Trading
> Ascending Triangle continuation pattern - Bullish Trap with limited upside
> Price Action: Wait for tighter candlestick consolidation - Entry @ Demand Support Line Zone only
> RSI - bullish trap signal
> MACD - Bearish Divergence
DP
Elliott wave 1 Elliott wave 1 Flat graph by Nantich The traingle
Turtle and rabbit
One day a rabbit was boasting about how fast he could run. He was laughing at the turtle for being so slow. Much to the rabbit’s surprise, the turtle challenged him to a race. The rabbit thought this was a good joke and accepted the challenge. The fox was to be the umpire of the race. As the race began, the rabbit raced way ahead of the turtle, just like everyone thought.
The rabbit got to the halfway point and could not see the turtle anywhere. He was hot and tired and decided to stop and take a short nap. Even if the turtle passed him, he would be able to race to the finish line ahead of him. All this time the turtle kept walking step by step by step. He never quit no matter how hot or tired he got. He just kept going.
However, the rabbit slept longer than he had thought and woke up. He could not see the turtle anywhere! He went at full speed to the finish line but found the turtle there waiting for him.
A monthly graph of SET:IVL with FIP3 tells you everything.In this clip, DrGraph shows you how to use Forex Insight Pro 3 for TradingView with a monthly graph of a Thai stock SET:IVL to see stories you need to know from its IPO about 7 years ago up until now. The tools tells the time investors should have sold this stock when It reached the all-time-high and should have bought it again two years ago before it recover to that same all-time-high level again this year.