Technical analysis for SKPRES Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- Overall trend still maintaining the long term UTL. Retracement occur from Feb-May 21 candle and rebound at Fibo 0.382 are considered neutral retracement in healthy trend.
- Current price candle trend had another retracement from Sept 21 candle and Oct 21 candle rebound at Fibo 0.382 considered neutral retracement in healthy trend. Current price candle trend form short candle with upper and lower wick accompany by below than average volume indicate price in congestion area. Give idea this is accumulation phase
- Latest OCT 21 monthly candle shows a short body with upper and lower wick accompany by low volume signal indecision-reversal may occur.
2) In Weekly TF
- Overall trend still maintaining the long term UTL and break out the mid-term DTL indicate the end of mark down phase.
- Current price candle trend moves in shorter range accompany by low volume indicate accumulation phase occur with significance VAP in 1.810-1.860 as immediate support area. Pivot high and low can't be seen clearly in this TF.
- Latest 1 Nov 21 Weekly candle show a short body with upper wick accompany by low volume signal market in congestion.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and the possibility of Bullish Pennant to occur with highest VAP in 1.815-1.845 as strong support area.
- Current daily price candle trend is retraced and staying at Fibo 0.36 area are considered neutral retracements in healthy trend. Current price candle in congestion period with price candle move in short range accompany by low volume indicate accumulation phase occur with highest VAP in 1.815-1.845 as immediate support area.
- Latest 5 Nov 21 candle give a bearish candle with lower wick accompany by low volume indicate selling pressure is dry. Price may move higher to immediate resistance.
1) In Monthly TF
- Overall trend still maintaining the long term UTL. Retracement occur from Feb-May 21 candle and rebound at Fibo 0.382 are considered neutral retracement in healthy trend.
- Current price candle trend had another retracement from Sept 21 candle and Oct 21 candle rebound at Fibo 0.382 considered neutral retracement in healthy trend. Current price candle trend form short candle with upper and lower wick accompany by below than average volume indicate price in congestion area. Give idea this is accumulation phase
- Latest OCT 21 monthly candle shows a short body with upper and lower wick accompany by low volume signal indecision-reversal may occur.
2) In Weekly TF
- Overall trend still maintaining the long term UTL and break out the mid-term DTL indicate the end of mark down phase.
- Current price candle trend moves in shorter range accompany by low volume indicate accumulation phase occur with significance VAP in 1.810-1.860 as immediate support area. Pivot high and low can't be seen clearly in this TF.
- Latest 1 Nov 21 Weekly candle show a short body with upper wick accompany by low volume signal market in congestion.
3) In Daily TF
- Overall trend still maintaining the immediate Support line and the possibility of Bullish Pennant to occur with highest VAP in 1.815-1.845 as strong support area.
- Current daily price candle trend is retraced and staying at Fibo 0.36 area are considered neutral retracements in healthy trend. Current price candle in congestion period with price candle move in short range accompany by low volume indicate accumulation phase occur with highest VAP in 1.815-1.845 as immediate support area.
- Latest 5 Nov 21 candle give a bearish candle with lower wick accompany by low volume indicate selling pressure is dry. Price may move higher to immediate resistance.
Comment:
Price candle continue move in consolidation with highest VAP in price 1.815-1.845