CBG has moved in downtrend for several months before bullish divergence and other reversal signal appear. I apply WTZ4, one of my favorite setup, for trading strategy. The setup sometimes offer competitive rewards depending on chart patterns. However, don't forget to managing your risks well before trading. Good Luck!
Just use the trendline and my wing Eliot-wave.
Maybe we will see the bullish divergence in SET:CBG week chart if the price didn't drop below 87.0
Just try to share the idea.
Price action and chart pattern trading setup - Entry at descending triangle breakout
> Wave Projection based on the weekly timeframe - the leading diagonal wave IV zigzag family is in the range 0.382-0.5 retracement of W.III slightly overlapped W.I
> Wave III extended 1.618 of W.I exactly and W.V is estimated at 1.618 - 2.0 of W.IV at 192 - 215 baht.
> 1st target...
Price action and chart pattern trading setup
> First time trend reversal pattern doubled bottom in weekly timeframe - a significant level trend reversal pattern
> 1st Entry at breakout and 2nd one at pullback retraced
> Target zone near SMA200 (0.618 retracement)
> Risk Reward Ratio: 1.5-2:1 for medium term trade
> Stoploss near the lowest bottom
Indicator...
Share has been falling because it was over-hyped and over-valued.
I am expecting more of a pullback and a retest critical support zones between (90-87 baht) (87 -80 baht). We should see a bounce at these levels, bouncing off an existing trend line . However, if that doesn't hold then we could see another meaningful correction to lower levels to bring the...
CBG | Thailand SET Index | Food Sector | Price Action & Chart Pattern Analysis
Potential Trend Reversal - Short Rebound | Bullish Divergent Signal |
> Falling Wedge Breakout Target Price 132.0 based on Double Bottom - Stop Loss EMA400 or 1st Bottom 117.0
> Big Lot volume support continuously
> Banker Fund Flow positive
> RSI strong divergent for a bullish...
Resistance at 123.50
Support at 109.50
Big momentum today after earnings report, I expect a small pullback in the days to come, which could serve as an entry point, before moving on up.
Gross margins sitting at 20% which is quite attractive.
CBG Break the 12 and 50 days Mv. AVG back into the trend box.
Buy Signal confirm
Stop Loss at 1.Trend line
2.MV. AVG 50
Take Profit at 1.All time high resistant
Otherwise, run trend until next Upper trend line resistant.
