This Week FORECAST Opportunity for ICON. This setup I waiting for pullback, so can put on wishlist >> TAYOR Risk Factors: 1. Market conditions, unexpected news, or external events could impact the trade. 2. Always use risk management strategies to protect your capital.
Negative impact on oil price speculated on rising COVID Infections Vs. Vaccine Progress.
This is my second view for this counter. As we can see price start downtrend after failed to break 0.155 . There are two area that is possible for buying opportunities either within zone FL or base below it . Wait for price action reversal form at highest time frame before enter market.
Case study ICON on EW. Current, short term distribution based on pnf chart sbb collect dekat bwh tu kejap je but if berjaya maintain atas 0.110, dia akan buat fasa re-accumulation (0.110 - 0.150), main ranging, indi stoch. if break 0.110, next pit stop; 1. 0.105 2. 0.095 3. 0.075 (aku bias dekat sini sbb ada gap tak close) education purpose.
WAITING TO EP 0.110, TP1 0.155 (41% ROI)
Short + Mid term Play. Even do Stoc show approching overbought region, the brent show upward momentum, has strong support at 0.140, for past two day show buy volume. EP : 0.145 CL: 0.140 TP : 0.22
I am target for long due to price not able to break lower low and look like pole flag pole patern / pennant I also consider to enter long for ICON WA due to price a bit lower than parent company.
Next Resistance : 0.135 EP : 0.10 CL : 0.09 GMT+8 Brent Oil USD 35.00