fxtangent

HMSP, IDX UPDATE

Long
IDX:HMSP   H.M. SAMPOERNA TBK
The retracement of IDX gives us second opportunity to grab HMSP .

Shown here is a 4 hour timeframe analysis

Several data to support this analysis (based on multiple timeframe )
1. The downside to the level of 1270 close the previous gap seen in 1 Hour TF and now closed.
2. Market structure breaking previous supply zone seen in 4 hr tf and 1d TF happened in May 2020 and now requires a retracement
3. Detecting the level of retracement, I drew fibonacci and found the fibo 0.786 match with 1270.


Having tapped 1270, we could see a major buying power into the stock.

Conclusion
- Set a buy order at the level 1350 as this represents a healthy pullback to a formed breaker
- slowly buying, to wait for the movement that is upside

PUMP IT!
Disc On



Comment: Get along the train before its too late
Comment: nice bounce on 1300, as predicted