C8R SGX BUY/LONG NOW READY! 0.075 to 0.235 by End 2023!TICKER CODE: C8R SGX
Company Name: JIUTIAN CHEMICAL
Singapore Stocks Process Industries Chemicals: Specialty
Position Proposed: BUY
BUY ENTRY: NOW READY (0.075-0.090)
1st Partial Take Profit: 0.150 (End 2021)
2nd Partial Take Profit: 0.235 (End 2023)
3rd Partial Take Profit: 0.270
Potential Take Profit: 0.365
Stop Loss: 0.065
Technical Analysis
1. LARGE INVERTED HEAD & SHOULDERS PATTERN (PARTIALLY COMPLETE)
2. Area of Confluence on EMA 60 & structure level
3. 1st Partial Take Profit would very likely push RSI to overbought levels which
would reject back down to new support structure
4. 1st Partial Take Profit will also be the Take Profit of Completion of Head & Shoulders Pattern
5. 2nd/3rd Partial Take Profit will be at the key level zone which is also near potential resting sell orders
6. Potential Take Profit will be at the Take Profit of Assumed Bigger Head & Shoulders Take Profit Level
C8R trade ideas
C8R (SGX) - Be Carefull Double BottomGreetings
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Strategy
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- Do not be hurry to open position
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Analysis
C8R (SGX) - Be Carefull Double Bottom
Trading Strategy For Jiutian ChemicalTechnical Analysis
1. Trend Analysis
overall Downtrend
2. Indicator Analysis
SMA 5, 10 on daily is too far away from trending, will result in possible retracement (bearish until retracement)
William %R shows its very overbought.
Volume-> sudden surge in volume could result in great pump and dump
3. Trendline Analysis
Broke above (Teal ) trendline ( Bullish)
Resistance at (green) Trendline ( Neutral)
4. False breakout possibility
An indicator would be in the red circular circle @ Mid nov 2017 would be a rough gauge and projected forward for additional allowance of false breakout .. key level would be at 0.070 ~ 0.071
5. Candlestick analysis (weekly)
Three white(green) soldiers indicating good strength and momentum therefore weekly closing would be very important to see if a break is possible
Trading Plan
I would be expecting Jiutian to fall back for retracement at the teal trendline which also happen to be 0.382 FIB @ 0.029 Pricing then forming a greater upward to test the key level of resistance 0.070-0.071
Entry: 0.029 for re-test of teal trendline
SL: 0.016 pre-breakout level
TP: Start trailing your TP towards 0.070- 0.071
It may hit and have a strong selling
