SOLID's current daily chart resembles that of a bearish bat harmonic pattern where a trade could be taken from Point C to Point D. The probable EP is 0.205, the probable TP is 0.260 which is Point D and yearly pivot acting as resistance, and probable CL is below Point A and 52-week low. Critical resistance to cross is 0.245.
Looking at daily chart, seems like it is going for wave Y which in this case worth to take up some solid stocks with low risk.
I am long which may take sometimes considering it is in daily chart. But why not when the reward is high.
#Elliotwavewarrior
#Worththewait
Bursa sentiment is quite weak so far due to political uncertainty.
Solid is categorized as automotive industry which under trader radar now.
Revenue is growing and net profit is improving.
Technical view for Solid is bearish since share price dropped below support (RM0.26)
Showing that big boy is not supporting the share price for now and it could dropped...
SOLID just released an awesome QR report with QoQ: +177% and YoY: +1068%
The price just entered weekly Ichi cloud signalling to start a weekly reversal.
Also has crossed Weekly EMA50 with solidvolumne.
Therefore, SOLID have the potential to go upside.
(Just for research & learning)
The automotive industry might not be the catalyst for economic recovery.
However, this becomes the second wave after the Oil & Gas market stable.
Accumulation phase in action.. monitor for possible "Spring"
This is long term game...
I would like to share my observation in SOLID volume surge recently.
Suspect someone is collecting the ticket with large volume.
After big fund collected enough amount of ticket, ticket available getting lesser (mean supply in the market is lesser), so when demand is high, the share price will rocket up.
If you see the volume comparison back in 2014/2015, the...
