ACES potential forming Gartley on Monthly chart.
Current downside has potential to reached point C.
Happen Point C also the 61.8 retracement of recent fibonacci retracement leg.
I have my positions
March 19, 2024
Reasons:
1. Low-risk entry point
2. Confirmed stage 2 uptrend
3. Has gone through a majority line of supply
4. A breakaway move, first breakout of a confirmed stage 2 uptrend
5. High relative strength
6. Volume dries up as less supply coming to the market
Flaws:
1. The market is still in a hard-penny environment, not much...
I bought my positions today
October 12, 2023
The reasons:
1. Low-risk entry point
2. Prior strong upside move
3. Has gone through a majority line of supply
4. A breakaway move, the first breakout after the stock in a confirmed stage 2 uptrend
5. High relative strength
6. The stock explodes 83% while the market only goes up 2%
7. Volume dries up as less supply...
IDX:ACES looks for a trend reversal from bearish to become bullish.
A look at the chart weekly, there is a bullish engulfing indicates a price reversal and validated by double bottom chart pattern on daily chart. The volume on 21 June 2023 shows spike and long candle indicates interested investor on $ACES.
Here is my analyze for IDX:ACES
TP 1 750-780 (harmonic...
IDX:ACES price currently is relatively same with covid price, when the virus attack in Indonesia on March 2020. Current candle on end of day April 1, 2022 the reversal is detected based on my criteria. Disclaimer ON.
Summary : buy on weakness, buy on support area
Key points:
Price hovering around strong support area, coincides with 0.618 fibo level
Price bounds back on major support trend line
Historic cycle analysis shows major bottom in blue vertical line, if repeats, price should react within this time window
NB: DO MIND that These analyses I posted here are intended as my notes and not 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!!!
