SALCON-WB (5/11/2020) towards Impulsive Wave 3?SALCON-WB completed Wave 2 in Nov-2 and currently riding upwards for Impulsive Wave 3 journey. This run normally in 3 zigzags before completing the wave. Resistance would be around 0.22, 0.3 and 0.43, with Support level @ 0.08 (Risk-reward is around 1:3.4). Fib Time is used to chart probable Wave 3 completion.
Volume started to increase since 9-Oct, with Bankers chip is taking over the volume, good sign for breakout.
It mothershare's MYX:SALCON has quite large balance float (60% of 1012M shares), relatively compared to lighter MYX:GADANG (49% of 728M shares) and MYX:VIVOCOM (54% of 566M shares). This would make a heavy friction for SALCON price to move. Good sentiment/news are needed to support its journey.
TAYOR guys !
p/s: I'm no expert, only a newbie trader practicing my new understanding on EW. Please help to feedback if you see any room for improvement. Thanks everyone.
