dimpledbrain

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AIRASIA

October 16th, 2019 by dimpledbrain

  1. At A – clear selling is seen
  2. At A1, stopping of selling is seen.
  3. B will be a good entry point to buy
  4. C is where some supply comes in (hard to trade)
  5. D has no incoming demand to support the price, a precursor to a lower price
  6. Entire buying and selling got flipped at E – from bearish it suddenly turned bullish

This is one chart that I couldn’t read – I was told to buy at D. However I know it is weak. Even at E, I’m not convinced of the volume as it approaches the support turned resistance line.

We need to see the next few reaction bars to determine if this is genuine bullish or otherwise. Note that AirAsia is managed by very scary operators. Trading this will prove extremely difficult.

If you have any idea on how I can relook at this, I’ll be all ears.

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