StevenWibawa

StevenWibawa

It has been a while since I put my chart analytic on Tesla. I firmly believe Tesla has a lot of upside potential in the coming years, it is one of the best growth investment of this decade. However, short term pullback is still expected ahead. Tesla has formed a structure of descending broadening wedge. We need to see Tesla break and close above recent high of...

StevenWibawa Updated 

As the announcement of Russian military operation to Ukraine began, it sent global stock market to plunge almost immediately and Gold price to rise. We have not seen Nasdaq over 20% correction since the Covid-19 crash. Today as the market open we can see the buying pressure almost immediately and in my personal opinion this could potentially a V-share rebound...

StevenWibawa

With recent move up from area of Moving Average 200-days, we can determine harmonic resistance level using Fibonacci Retracement at 0.618. 10% upside potential to reach the target. Or 20% when it closes the gap at $149 price level. Beware of a potential pullback to fulfill the gap at $110 and $106.

StevenWibawa

As I have been watching energy sector over the last couple months, I can conclude that the underperformed sector will make a good recovery into 2021. My top pick in ASX20 is Woodside Petroleum. Recently closing its gap up, WPL will make its bullish continuation for upcoming weeks and months. My immediate price target is at $29 level with a potential upside...

StevenWibawa Updated 

I started to see the wedge pattern on Facebook recently. And it is one of the biggest in recent time. As I believe the bigger the pattern, the larger it will move up or down (depending on the direction of the trend). Although in the bigger picture (weekly chart), Facebook is on bullish trend. We should not discount the potential downward movement. The next...

StevenWibawa Updated 

As Tesla broke the previous wedging pattern, the price level has shot up to the higher level. So what next from here? My price target of $800 is based on Trend-based Fibonacci Extension technical analysis. As for now Tesla has entered consolidation area. Tesla inclusion of S&P500 will begin on the same day of December 21. Volatility is expected toward in coming...

StevenWibawa Updated 

As the energy sector has been racked by the pandemic in 2020, I see strong opportunity of recovery in this sector strongly in 2021. Whitehaven Coal is my pick to rebound strongly as recently it broke the trend line and upward movement is expected. With market valuation of about $1.6 billion, I would consider WHC as mid-cap and wild volatility is expected. A...

StevenWibawa Updated 

For the last 3 weeks I have seen Afterpay has been forming a wedging pattern (bigger than any previous similar pattern). A breakout of this pattern will shoot the share price to an immediate price target of $112. The downside potential still needs to be considered if breakout below the current price level. In the past two years of the month of December, Afterpay...

StevenWibawa Updated 

Tesla has recently broke out the wedge pattern (the largest wedge so far). The immediate price target is $589 based on the Fibonacci Trend. Expect volatility before reaching the next resistance and potential correction. Overall Tesla is bullish and I do not see any immediate short term trend reversal.