PGAS BUY if BREAK 1195
if it is able to break and stay above level 1195, PGAS has the potential to strengthen to 1530 with minor targets of 1280 and 1415
Stop loss 1140
Watch closely for Point C which has to be within the yellow box.
You can use the yellow box as downtrend target as well. If price reverse to the upside within the yellow box then point C is valid and the pattern has higher changes to form.
I have positions today
Why I buy the stock:
1. Low-risk entry
2. It forms a classic cup and handle pattern
3. High relative strength.
4. Volume decreasing (1-2 punch), less supply coming to the market.
Also, the stock closes good with huge volume on the breakout.
PGAS high probabiity bull on medium-long term with Broadening Wedge Pattern. High probability pattern & good fundamental (Blue Chip), swing-medium plan applied. Risk, accum area latest price - 1625 (the worst). reward sell @ yellow and red area.
*PGAS*. Weekly time frame (long term). Ascending triangle pattern. Buy if broke up 1860. TP1 2450, TP2 3050, TP3 (extended) 3380. SL based on theory at 1495, but this is too far below. I would prefer SL at 1780, coz if it down below 1780 it means it dives into the triangle area again, not good, failed to go up. Better exit first, and wait until the next swing low...
Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future
Cuation: Last High = Double Top MN
Yelow:
Buy position @1450
RR 1.8
high Possibility continuing CP and going up higher if break 1580.
TP1. 1580
TP2. 1795
TP3. 2150
White:
Buy position @1340~1280
RR 1.8
break last low, high posible HNS
Recommend exit at shoulder @1580 then wait and see
Tp early 1450
Red:
Break Down
Note: cut lost at retracement important level
Disc on
weak support at 1380
Weak resistance at 1480
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...
The increase in world energy prices became the main sentiment for the increase in IDX:PGAS, PGAS is an Indonesian Oil, Natural gas transportation and distribution company.
Technically, PGAS Daily formed the Ascending Triangle pattern, we can clearly see support and resistance. If there is a breakout support area, it is likely to be bearish. however, if there is a...
PGAS allows for a cup and handle pattern to occur with the resistance area around 1510-1570. If the resistance is successfully broken, then there is a chance the price will rise to the resistance area at the range 1815-1880, continuing the bullish trend.
#Disclaimer:Not a suggest to buy or sell.
weak support at 1380
weak resistance at 1480
I Prefer green 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...
![PGAS: [symbol="IDX:PGAS"]IDX:PGAS[/symbol]](https://s3.tradingview.com/s/SnlTF9rI_mid.png "[symbol=\"IDX:PGAS\"]IDX:PGAS[/symbol]")
