Based on the recent movement of JMART price, it has experienced a decline of over 61.8% retracement. As a result, it is highly likely that the price will reach the target price of 18, which represents the next level of retracement.
Nevertheless, I personally believe that JMART has the potential to become a future stock leader of Thailand, similar to TSLA ,...
Price action and chart pattern trading setup
> Contracting Wave Channel pattern with downtrend target around the corner.
> Entry @ minor downtrend channel in daily timeframe breakout above SMA200
> TP1 @ wave (3) position
> TP2 @ wave (5) III position for medium term
> Stoploss @ SMA200 downside -9% RRR: 2:1
Indicators signals not shown here:
> Smart money...
Jmart Day 48.75 (at the end of the road, prepare to go down)
+1. Price Arrival at the end of the road 2.618%
+2. The 50.50-50.75 line is a significant resistance.
caused by the overlapping of the Fibo line
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Sell strategy
First target 45.75-46.50 if unable to stand down
Target two 42.75-43.25
