Disclaimer: This analysis just serve for sharing purpose and not a buy call purpose.
As you can see above, solution experienced 4 contraction (C1, C2, C3 and C4). Each contraction is getting smaller and the last contraction is less than 10%. (very important step in VCP)
Contraction less than 10% at the final contraction mean the supply in the market is less. Whenever huge demand come it, the price will explode.
On 3rd November, price gap up and close with volume that more than previous day. I enter on 3rd Nov 2020. With the vaccine news and our budget 2021 announced recently, vaccine counter really explode. I have sold partially at 0.930 with 32% gain.
Bintai has the same pattern, but i pick solution due to it support by its MOU, Private Placement Announcement which seem more realistic for me.
Note: VCP required patience to wait for the pattern fully developed.
Comment
⋅
Solution forming pivot last few days, volume kick in yesterday while our beloved YB Khairy sign agreement with China. Today trigger people sell on news for profit taking. Price still strong at half candle support.
@winston001, BINTAI is forming VCP as well. Keep an eye on it.
winston001
⋅
@adamkhoosk, Appreciate it! this looks like straight out from a text book! I assume it's a Buy when the price breakthrough 0.795, which was the highest price on Nov 9th? Just to see if you agree or having any other thoughts.
adamkhoosk
⋅
@winston001, Highest point of the last contraction is 0.765 on 10 Nov. Can refer to that.
adamkhoosk
⋅
@winston001, bro, Bintai breakout today, do you able to get some ticket before this?
winston001
⋅
@adamkhoosk, I'm starting to think, when should I sell it, haha.
adamkhoosk
⋅
@winston001, Bro, can sell partial to secure profit. Limit up soon. We can't be greedy in stock. We need to be consistent.
winston001
⋅
@adamkhoosk, Thanks for the advice. I realize this is a long term investment. Trying to look for other stocks with VCP too. Looking forward to see more of your shared ideas!
cskim71
⋅
thank you for sharing
SharkbaitAl
⋅
Nicely done, I have been studying VCP myself as of late and this was a great set-up -- nice job spotting it