We can see that GPSC is correlated with US10Y.
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US10Y is at a peak level of 5.00% , And with a possible of retracement to 50% Equilibrium of the highest and the lowest of US10Y which is at 2.680% (as of1 Aug 22)
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With this information we can target GPSC at the same level of 1 Aug 22 which is 71 Baht.
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Entry around this level will possibly gain around...
Price action and chart pattern trading setup
> Bullish Dragon pattern in correction wave A, possible reversal for uptrend wave B
> Entry @breakout channel dragon ridge
> Target @ 0.618 retracement of previous top SMA200 zone
> Stoploss at the low A position - RRR: 2:1 downside -7%
Indicator:
> MACD bullish divergence signal crossing up baseline 0.
GPSC is still moving in downtrend although it rebounded during previous weeks. However, it's interesting when TD sell setup is counted and unable to break TDST Level. That's supposed the stock is still moving in the same trend. The previous low is expected as the target price while another side of wave line is applied for stop loss. Enjoy your trading.
Price action and chart pattern trading setup
> possible upcoming bullish dragon harmonic pattern
> recommended entry at falling wedge breakout
> 1st target at 0.618 Fibonacci retracement at dragon hump zone near volume profile key resistance
> 2nd target at dragon head zone for medium term trading
> 3rd runtrend for dragon tailswing above 1.0.
> stoploss at...
GPSC | Thailand SET Index | Energy Sector
> Weekly chart pattern - Cup & Handle estimated target for uptrend
> Price Action Trading - Buy on breakout with strong momentum candlestick patterns
Always respect your stoploss,
Good Luck
Since we forecast the pivot point at peak GPSC would going down for correction and at 38.2 level expecting to rebound and then move downward again. If not rebound at the point expected. We suggest keep on put side and TP at the edge of bottom line of channe.
Big Picture trow back 5 year seem GPSC going down. Some of investors feel enjoy their margin and take profit. If lost this support around 76 we may see 60 again
GPSC is on the upper side of both Mv. AVG 12 and MY. AVG 50
Breaking Bull Flag, a very high chance of reaching the new high and the next middle-time-frame resistant.
