Artroniq - Potentially developing into Main Wave
1. Chips Accumulation Stage :
As indicated by Chips Master and Volume below 50-day moving average, chips accumulation started around mid Sep and ended around 8Nov, between price zone of 280 to 335.
Based on Fixed Volume Profile over this period, average chips accumulation cost is estimated around 320.
There was a brief price up testing around 18-19Oct, followed by retrace, forming a cup and handle shape. Estimated price up fulfilment is 395.
2. First Up and Retrace :
First up happened between 8Nov to 15Nov, followed by a brief retrace.
3. Rebound and potential developing into Main Wave:
Today close at cup & handle price up fulfilment price, with volume around 6x compared to previous day.
BBD Master and Trend Master turn into green, a positive uptrend potential.
Trend Ladder Master is in Uptrend zone. Fast Ladder Master continue to ladder up.
Both moving into oversold zone. May need to pay attention to potential retrace.
MCDX's Profitability chips level is around 50 with locked chips at 0 level.
This is a positive development, with profitability moving into 75 or more.
4. Summary:
Based on above analysis, there is a potential of developing into Main Wave, and risk of short term retrace.
As indicated by Chips Master and Volume below 50-day moving average, chips accumulation started around mid Sep and ended around 8Nov, between price zone of 280 to 335.
Based on Fixed Volume Profile over this period, average chips accumulation cost is estimated around 320.
There was a brief price up testing around 18-19Oct, followed by retrace, forming a cup and handle shape. Estimated price up fulfilment is 395.
2. First Up and Retrace :
First up happened between 8Nov to 15Nov, followed by a brief retrace.
3. Rebound and potential developing into Main Wave:
Today close at cup & handle price up fulfilment price, with volume around 6x compared to previous day.
BBD Master and Trend Master turn into green, a positive uptrend potential.
Trend Ladder Master is in Uptrend zone. Fast Ladder Master continue to ladder up.
Both moving into oversold zone. May need to pay attention to potential retrace.
MCDX's Profitability chips level is around 50 with locked chips at 0 level.
This is a positive development, with profitability moving into 75 or more.
4. Summary:
Based on above analysis, there is a potential of developing into Main Wave, and risk of short term retrace.