SIDO potential forming Butterfly pattern after successfully completed Point C and reverse to the upside.
Hopefully SIDO able to complete the pattern which is the next resistence and continue to reach the Cup&Handle pattern target (see previous post on Cup&Handle pattern)
Hello Fellow Stock Traders, Here's a Technical Analysis of SIDO!
Industri Jamu & Farmasi Sido Muncul (SIDO) has demonstrated significant price development by breaking out of its bearish channel. This price action indicates the beginning of a bullish trend in the stock, accompanied by a bullish candlestick pattern and increased trading volume.
Moreover, the...
Looks bullish for me
Price is moving at white lines
My buying zone 705-685
SL 635 if candle close below
TP max at 875-900
Disclaimer On
DYOR
This analysa just for education only
Trade with your own decision
SIDO. D1. Descending broadening wedge pattern.
TP1 785
TP2 860
SL 695
Entry can be done at the last closing price or we can wait until the next swing low after retracement.
There is so much confirmation that signaling SIDO will going up, firstly we can see there is a trendline supported by support line. the indicator stochastic also indicating that the market already oversold
SIDO . Weekly TF. Now at support. Will it be up or down? Will the support bounce it back or it can not hold the bear preasure?
In my opinion, it probably will bounce. Scenario A to create the first lower low after it broke down the trendline.
IDX:SIDO aka Sido Muncul is a publicly listed herbal medicine and food products company based in Semarang, Indonesia, established in 1940. It produces and markets a variety of consumer products related to herbal medication, such as the jamu Tolak Angin. IDX:SIDO stock is still in a bullish trend, this is a good opportunity to accumulate buying near the support...
SIDO's long position from Q3/2021 to the end of Q1/2022 This year we made a profit of 53%.
In the midst of the pandemic, This company is growing very fast. They recorded extraordinary financial reports.
www.idx.co.id
When the fundamentals align with the technicals it is a very good opportunity.
Technically, it's time to take profit! While sentiment and...
weak support at 895
strong resistance at 985
I Prefer yellow trading plan
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not...
Reported to have an increase of 21% profit in Q2, this herbal company shows consistently good results. EPS keeps increasing YOY, and currently sits at 33. It is offering a dividend yield of 3.93%, and having PER 23.90x, PBV 7.59x, and ROE of 31.74%. It has relatively low DER of 13.53% with current ratio of 225%, quick ratio of 396.76%, and current ratio of...
