GDST
has been bearish since the late of May 2021 after reached their highest price in 2021 at IDR 135/share as they experienced a bullish trend following the issuance of Q1 reports which booked IDR 6 billion of net income after having a huge loss of IDR 108 billion at Q1 of last year. But, now we are seeing a potential reversal on
GDST
as they managed to break out the descending triangle pattern of bearish by having a bounce from the strongest support line at IDR 95/share.
Moreover, the potential reversal of GDST also appears to be confirmed by the crossover on MACD and the stochastic which also started to move away from the oversold area.
However, the question to be asked is, at what point is the peak of GDST can be reached on this potential reversal? GDST has demonstrated a bouncing from the fibonacci retracement level of 0.786 at IDR 102/share, and now are looking for a test to break the strong fibonacci retracement level of 0.618 at IDR 108/share and if they managed to close at that level it is a good confirmation of GDST to continue the bullish and to test another 4 fibonacci retracement level before they can reached their highest price in 2021 at IDR 135/share. But, I prefer to set a lower target price that is after they reach the fibonacci retracement level of 0.236 or at the range of IDR 122-130/share considering the performance of
COMPOSITE
which now experienced a sideways, except if there is a good sentiment for
GDST
, either from the market or the company itself, which still awaits for the Q2 reports.
Moreover, the potential reversal of GDST also appears to be confirmed by the crossover on MACD and the stochastic which also started to move away from the oversold area.
However, the question to be asked is, at what point is the peak of GDST can be reached on this potential reversal? GDST has demonstrated a bouncing from the fibonacci retracement level of 0.786 at IDR 102/share, and now are looking for a test to break the strong fibonacci retracement level of 0.618 at IDR 108/share and if they managed to close at that level it is a good confirmation of GDST to continue the bullish and to test another 4 fibonacci retracement level before they can reached their highest price in 2021 at IDR 135/share. But, I prefer to set a lower target price that is after they reach the fibonacci retracement level of 0.236 or at the range of IDR 122-130/share considering the performance of
COMPOSITE
which now experienced a sideways, except if there is a good sentiment for
GDST
, either from the market or the company itself, which still awaits for the Q2 reports.
Trade active:
IDX:GDST closed at IDR 109/share breaking out the strong fibonacci retracement level of 0.618 at IDR 108/share. Possibly headed to the next resistance at the fibonacci retracement level of 0.5 at IDR 112/share
Trade active:
IDX:GDST closed at IDR 104/share. Turns out still trying to break the the strong fibonacci retracement level of 0.618. We'll see again today.
Trade active:
IDX:GDST closed at IDR 102/share at the end of the week. Better take a stop loss if they break under IDR 100/share. We'll see it again next week.
Trade active:
IDX:GDST closed at IDR 105/share. Hopefully can break to IDR 108/share again this week awaiting for news from the general shareholders meeting.