sothye

SOLUTN-WA (26/11/2020) strong upward momentum

Long
The counter is on uptrend channel and making its ATH since 18 November 2020. In hourly chart, Stochastic & RSI are both showing overbought, with MACD showing a probable breakout. A continuation of high volume could continue the momentum with TP of 1.12 (Fibo 1.272) and Support at 0.660 (RRR 1:1). Using Gann Square of 9, resistance is at 0.91/0.96/1.01/1.06/1.11/1.16/1.21 and support at 0.86/0.81/0.77/0.73/0.69.

Banker chip is already 100% showing a good momentum in the price action.

Its motherstock (SOLUTN) has quite high balance float (58% of 323M shares) compared to its closest competitor in same sector - SUCCESS (8% of 249M shares). However, its vaccine sentimen couple - BINTAI (71% of 350M shares) has much larger float. With SOLUTN's Covid-19 vaccine venture sentiment, we could expect huge volume in this stock few more months to come.

SOLUTN has been classified as Syariah compliant on 26-November-2020, therefore would increase buying interest from Syariah buyers.

TAYOR

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