FREN
successfully breakout from Bullish Pennant and forming candle pattern of There White Soldiers.
FREN
close 1 pip below FIBO 0.382 which can served as strong resist, however if we take a look at MACD and STOCH indicator it seems the UPWARDS TREND has just started. So in this case, there will be 2 possible trade scenarios :
1 ) We can open position slightly below Friday 17 September 2021 Close. ( 125 - 126 will be good ) with around 50% of our equity. In case it will going to continue the upwards trend. so we won't miss the trades.
2 ) If any cases it failed to break FIBO 0.382 ( 129 ) and reverse back. We can try to open position around FIBO 0.236 which served as support line.
NEWS for FREN :
FREN introduces " Open Possibilities " mission to public quoted on CNBC on 15 September 2021 which can be a strong catalyst where we see it triggers the start of the UPWARDS TREND.
"Open Posibbilities" is Smartfren's mission to ensure open opportunities and optimize the use of digitalization to stay creative & active through the best internet products and services. Adding on, SMARTFREN also prepared to support 5G technology and welcome the digitalization era.
As we know 5G is the undisputed issues that have been around for months. Many telco operators have been vying to provide such services to boost their sales on data usage. Mobile phone Brands also follow such issues that can be reflected on the released of their new phones which able to support 5G.
Legends :
GREEN : ENTRY LEVEL
BLUE : TP01
PURPLE : TP02
ORANGE : TP03
RED : STOPLOSS
( For numbers please refer back to chart )
Disclamer ON, all published ideas merely my opinion to certain STOCK. It is advisable to do your own analysis and research before entering a certain trade.
Happy Profitable Trading.