The stock is forming a perfect cup and handle pattern.
Price action and chart pattern trading > The big question mark is Wave C correction is relatively too short in nature of a standard zigzag correction. > Assuming the correction is done, the current minor leading diagonal target Wave 5 is projected at 1.236 - 1.618 retracement of the current minor wave 4. Always trade with affordable risk and respect your stoploss
BANPU is coal stock At the moment coal is rising, If break out the supply zone then it's good buying opportunity. (btw, this is monthly chart... It will be quite a very long timeline at least 3-4 years until it reach the peak of cycle) . Trade safe n fun don't forget to place the stop loss at ur acceptable risk
BANPU | Thailand SET Index | Energy Sector Chart Pattern Weekly Timeframe Cup&Handle
BANPU | Thailand SET Index | Price Action | Chart Pattern Some ideas for estimated target for upcoming uptrend waves Always respect your stoploss
BANPU recent crossover EMA10 due to sudden decline of coal price and China restarting domestic coal production. China" orders "coal mines" to increase production capacity to almost 100 million tons to solve the energy crisis. China orders more than 70 coal mines > Target Price 1 @ 15.7 based on Elliott wave extension projection. > Stop Loss EMA50 @ 12.3 > Possible...
- On the weekly chart, you can see that there is a CYCLE zigzag truncate pattern. According to Glen Neely, this pattern has a minimum target of an 81% retracement @45.5. - On the daily chart, there are two likely scenario that could occur: 1. Primary wave has already completed and we are approaching Primary wave . 2. Primary wave might not be completed: we...