In this scenario, we are also on the (b) wave of the (X) wave. I expect PTBA to drop again for a bit.
The 200-day MA could offer a strong resistance for the (c) wave. It could poke through, but I think its gonna continue to the downside afterwards.
I believe we are in the B wave of the latest ABC correction to the upside. I'll post my other slightly different scenario than this one.
Please do share your ideas if you count any different from what I did. Thanks
Have some planning for this
1. Wait for breakout fib618
2. Averaging 2x, start from fib05 area and the second start from fib382 area
This analysis just made for education purpose only
Trade with your decision
DisclaimerOn
PTBA . Daily TF. Rising wedge pattern. Has broke the trendline support and go to the retest area (support that become resistance). Be carefull. It might do down if it rejected. Or if it enter the wedge area again and breakout the wedge, it is become bullish and cancel the bearish.
Technical Analysis is the forecasting of future financial price movements based on an examination of past price movements. Like weather forecasting, technical analysis does not result in absolute predictions about the future.
Setting up a Cup with handle, the stock develops its handle area.
The fundamentals are outstanding, I like to see a break out very soon, I am watching this closely now.
PTBA is currently breaking its strong resistance at around 3030-3120. It can be seen on the chart that the price is breaking its strong resistance with a very strong bullish candle and supported by such a large volume. this has the opportunity to send the price up to the supply area around 3170-3830 where previously was a strong support area which was broken down...
PTBA, Fundamentals looking very strong, numbers looking good. The monthly chart indicates Positive movement. I think there will be momentum in Late Feb or Early March.
Once it crosses 3000 a key FIB level to watch, the upside is huge, April May June is a possible Dividend season, so all indicate positive.
if due to Macro situation, Fed Interest hike, Ukraine...
Newcastle Coal is still high and PTBA supposedly will have great net profit for Q4-2021, so I think the possibility of this C&H pattern is very high. Hopefully PTBA can go above Rp 3200 per share.
STRONG SUPPORT AT 2300
STRONG RESISTANCE AT 2700
I PREFER YELLOWTRADING PLAN
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not...
MEDIUM RESISTANCE AT 3110
STRONG SUPPORT AT 2700
I PREFER GREEN TRADING PLAN
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not...
STRONG SUPPORT 2300
STRONG RESISTANCE 2700
I PREFER GREEN TRADING PLAN
Disclaimer:
This information is for educational purposes and is not an investment recommendation or representative of professional expertise. This analysis used herein is for illustration purposes only. This personal opinion should not be considered specific investment advice. I am not...
