Wave XA retracement to B (0.350) is in-between fib618-786 levels and the rebound failed to cross fib382 (0.400) thereby retracing to 0.280 (also the 52wl) to double-bottom and forming an AB=CD bullish harmonic pattern. To enter trade, the probable EP would be 0.290 to retest a demand zone and the probable TPs are 0.325 (daily pivot point), 0.365 (fib618, R1...
There is a possibility of double bottom pattern and if that happens then we might see a bullish break out. Please comment on what you guys think of this. Thanks.
Disclaimer: This is not a buy call but for learning purpose
Technical Analysis
Price between MA20 & MA50
Volume OK
Potential rebound at MA line
RSI around 50
weekly chart is up trending but stochastic not looking very good
daily chart stochastic is at oversold region, not yet crossing
may be some price rejection will occur first
wait for signal from weekly chart
Binacom is in strong bullish mode.
Will, it let the bull keep running or push down by the bear?
IF the momentum maintains, expected to reach the 0.60 prices.
Note: Just a trading idea. NOT a buy call
BINACOM
Theme: 5G Infrastructure
Rst: 0.47
Spp: 0.43
Marubozu candle, pushed BB substantially wider with increasing volume, this is powerful breakout and the momentum will last another few weeks.
BInacom (0195) - Telecommunications & Media- Ace Market
Binacom breakout resistance on horizontal line on 09/02/21 with huge volume,
Cautios due to presenting of long upper tail ,
classified Uptrend counter when price above MA200,
Pull back T1 - T2 with low volume,
52 wk price play around 0.195 to 0.565,
MACD cross up signal line at strong buy area,
Stoch TF30...
Uptrend
slow turtle
fast turle
fift positive
HH and LH
buy 40% at 0.44
buy DIP 30% at 0.41 to 0.435
buy at support 30% RM 0.375
TP 0.475 , 0.560
SL below 0.34
Accumulation phase.
1. Spring completed with noticeably diminished volume.
2. Price cross up EMA20 and EMA100.
3. Stoch oversold.
1st Target will be 37%
2nd Target will be determined once the price makes an LPS.
MYX:BINACOM
SWING: 2 DAYS TO 2 WEEKS
Breakout Downtrend Line
52 Weeks High Line
Fibbonaci Retracement
Candlestick Support & Resistant Zone
Trendline Support & Resistant
![BINACOM: BINACOM [2 December 2020] Buy On Resistant Zone Break Out](https://s3.tradingview.com/u/ul8tx5uW_mid.png "BINACOM [2 December 2020] Buy On Resistant Zone Break Out")
