Price bounces on the ascending trendline . Most likely the chart will form a double bottom pattern . We will also find the possibility of forming a morning star chart pattern in a monthly time frame.
During this stock market correction era, i analyzed ASSA using Elliot Wave and it's principles. I found ASSA's current wave is on its correction phase. My suggestion is to short or make an entry on its support (1170-1255)
*huge disclaimer
A very profound example of VCP that I missed a few weeks ago, now it develops another buy point at a pullback here.
The commonalities at its both pivot area are fascinating. I like to see a breakout very soon.
ASSA membentuk chart pattern falling wedge, sekarang sudah breakout ditambah ada divergece. Targer profitnya juga pass di resistance channel bullishnya.
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I prefer to recognize it as a cheat area instead of a handle. Its price action and volume seem interesting. Let's see if it has institutional support on a breakout before I set my position.
NB: These analyses are not intended as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!
