Can take a long position on MAYBULK as it is spotted: a) rebounding from 52-week low; (b) rebounding from Elliott Waves ABC corrective zone; (c) in bull flag formation and (d) if seen in weekly chart, it is rebounding from fibo786.
Maybulk - Potential Break up and turn into up trend
VT Stock indicator is a stock breakout trend indicator for identifying the change of Mid to long term trend direction
(Disclaimer: for demonstrating own planned trade records study only and education purpose, not for recommend to buy or sell. Trade at your own risk)
*Study Counter*
CI - Market is trending for possible spike
WM - Whale increasing
MM - Peak and heading to oversold
Pattern = Simetrical Triangle is a billateral pattern.
it can be reversal / continuation pattern.
Bat Pattern complete, possible retrace to 0.725.
Pattern Head and shoulder complete.
Wait to the end of the Simetrical triangle ,
to confirm...
I shared MAYBULK VCP development earlier and that time attempt unsuccessful. (Link below)
The VCP back in shape again. But seem like will have another round of correction to test the support.
Let's see if this round able to attack or not with overall logistic sector are moving.
C1: -30%
C2: -15%
C3: -11%
C4: Observing
Disclaimer:
Not a buy call suggestion,...
Maybulk developed VCP in ~120 days with below contraction:
C1: -30%
C2: -16%
C3: -9%
C4: -4%
C5: <-4%
3 Sep & 9 Sep both day showing breakout!
Disclaimer:
Not a buy call suggestion. Just a sharing on technical analysis through chart pattern for education purpose. Trade at your own risk.
Maybulk rose above DTL with its daily RSI indicator in an uptrend coupled with HH and HL bullish structure remain intact. Hence, we see a possibility of further movement towards resistance R1 at 0.785 followed by R2 at 0.83. The downside support is projected at 0.65 followed by 0.555. A breach below S2 will negate this bullish outlook.
Disclaimer: No trading...
Trading Idea MAYBULK (11/6/2021)
- Pending EMA cross-over
- Opportunity to take position at current price with ideal risk-reward.
Disclaimer: This trading idea is strictly intended for educational purposes only so please do your own analysis before making any investment decision.
Resistance 3 : 0.855
Resistance 2 : 0.770
Resistance 1 : 0.660
Support 1 : 0.555
MAYBULK already hit the Support_1 and return above 0.60. So, 0.555 will the buttom for this downtrend. Next week will continue break Resistance_1 : 0.660.
Resistance 1 : 0.855
Support 1 : 0.770
Support 2 : 0.660
MAYBULK will continue to break new High (0.855). If unable to break new High (0.855) will look back Support_1 : 0.770
![MAYBULK: Uptrend stock - Upside Breakout [NS]](https://s3.tradingview.com/p/p9yYKt8N_mid.png "Uptrend stock - Upside Breakout [NS]")
