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dhimaswppr

IDX: AKRA - May 2021

AKR CORPORINDO TBK (IDX:AKRA)  
dhimaswppr Updated   
IDX:AKRA   AKR CORPORINDO TBK
Head and Shoulders IDX AKRA indonesia invertedheadandshoulders
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headandshoulders idx akra indonesia invertedheadandshoulders
AKRA

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At a glance: AKRA is still building up momentum to break out the down trendline formed since late 2017.
False Breakout occurred on the 3rd Week of March 2021.

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False Breakout confirmed by Rule of Three methods where the candle only lasted 2 days above the down trendline.

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In my perspective, there is a flat range for this stock in the area of 3110-3300-3490
Price needs to break out 3300 as the strongest resistance with good volume.

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If the price can break out 3300, an Inverted Head and Shoulders pattern is confirmed.
The target for the small swing reversal aligned with the Retracement target at 3510-3520.

Stop Loss if the price goes lower than 3080.

Disclaimer is always on.
Trade at your own risks.
Trade closed: stop reached:
Pattern failed and the price reached its stop-loss condition. AKRA is being dragged down as the IDX Composite weakened.
No other sentiments currently can boost AKRA's price.
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