ISDN just released its full year, though numbers are disappointing, the company mentioned that they had been re-investing heavily during down time to capture market share. With yuan bottoming, semicon seeing a pick up in 2H 2024, and Chinese advanced manufacturing boom for the foreseeable future, I expect a stella FY 2024 from low base of FY 2023. Technical...
Sign of Strength in the chart: 1. Reaccumulation with VCP 2. Pullback with NS (Weekly chart) 3. Pocket Pivot Disclaimer This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Consolidation occurs when there is a presence of sellers in the market. Price will remain sideways until sellers have exhausted, then it will eventually rally up. The exhaustion in supply can be seen in decreasing volume within the same price range. As a trader, you need to understand that buying within this consolidation means, you will be held for some time....
ENTRY: 0.430 TP: 0.480 SL: 0.385 - ADX<25. Prefer it to be higher. - RSI>50. But pointing up. - FFI and RSI +ve - Looks like demand in play with many green volume on up and low volume on retracement since Aug 2020. - Price squeeze in triangle.
ISDN has clearly invalidated the head and shoulder formation after prices fails to test and breaks below the neckline resistance at $0.340. Hence we are betting on the odds of prices breaking the triangle top.
Result released with positive guidance, strong demand will continue. Last 2 day with low volume, let it consolidate for a week or 2.