ACES potential forming Gartley on Monthly ChartACES potential forming Gartley on Monthly chart.
Current downside has potential to reached point C.
Happen Point C also the 61.8 retracement of recent fibonacci retracement leg.
45IDR
664.343BIDR
6.763TIDR
6.824B
About ACE HARDWARE INDONESIA TBK
Sector
Industry
CEO
Prabowo Widyakrisnadi
Website
Headquarters
Jakarta
Employees (FY)
13.023K
Founded
1995
ISIN
ID1000125503
PT ACE Hardware Indonesia Tbk engages in the retail business of household appliances and lifestyle products. It operates through the following segments: Home Improvement Products, Lifestyle Products, and Toys Products. The firm also offers installation services. The company was founded by Kuncoro Wibowo and Ijek Widyakrisnadi on February 3, 1995 and is headquartered in Jakarta, Indonesia.
ACES going to nearest Fibo target soonACES has rebounded from low to nearest fibo target soon.
Still some upside from here.
ACES (VCP - 12W 18/3 3T)I bought my positions today
October 12, 2023
The reasons:
1. Low-risk entry point
2. Prior strong upside move
3. Has gone through a majority line of supply
4. A breakaway move, the first breakout after the stock in a confirmed stage 2 uptrend
5. High relative strength
6. The stock explodes 83% w
Short review chart stock 'ACES'IDX:ACES looks for a trend reversal from bearish to become bullish.
A look at the chart weekly, there is a bullish engulfing indicates a price reversal and validated by double bottom chart pattern on daily chart. The volume on 21 June 2023 shows spike and long candle indicates interested investor o
ACES - reversal starts from now?IDX:ACES price currently is relatively same with covid price, when the virus attack in Indonesia on March 2020. Current candle on end of day April 1, 2022 the reversal is detected based on my criteria. Disclaimer ON.
ACES : buy on supportSummary : buy on weakness, buy on support area
Key points:
Price hovering around strong support area, coincides with 0.618 fibo level
Price bounds back on major support trend line
Historic cycle analysis shows major bottom in blue vertical line, if repeats, price should react within this time
ACES, Falling Wedge Upside 20%TP 1 : > 1800
TP 2 : > 2000
SL : < 1350
Risk In Your Hand
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ACESACES is still in the consolidation stage and testing the trendline. If successful, ACES will test the 1600 price level.
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