IDX: AKRA - May 2021

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AKRA


At a glance: AKRA is still building up momentum to break out the down trendline formed since late 2017.
False Breakout occurred on the 3rd Week of March 2021.


False Breakout confirmed by Rule of Three methods where the candle only lasted 2 days above the down trendline.


In my perspective, there is a flat range for this stock in the area of 3110-3300-3490
Price needs to break out 3300 as the strongest resistance with good volume.


If the price can break out 3300, an Inverted Head and Shoulders pattern is confirmed.
The target for the small swing reversal aligned with the Retracement target at 3510-3520.

Stop Loss if the price goes lower than 3080.

Disclaimer is always on.
Trade at your own risks.

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أغلقت الصفقة: تم الوصول لوقف الخسارة

Pattern failed and the price reached its stop-loss condition. AKRA is being dragged down as the IDX Composite weakened.
No other sentiments currently can boost AKRA's price.