ลงทุนหุ้นไทย Thailand stock investment: Structures in BGRIM daily chart as of 20180327.

Wednesday, March 28, 2018

Structures in BGRIM daily chart as of 20180327.

Since its IPO in mid 2017, BGRIM share price has gone through a super bull period from 16.50 to 33.00 THB per share (up 200%). In the chart above from the left to middle areas, three major swipes of upward price movements can be clearly seen. It's human nature to do things in 3 sets. BGRIM price rally has also been done in 3 sets, one, two, and three, done ! Experienced investors would exit this market at "3", forget about BGRIM, then keep the money in their banks or put it in some other stocks. Some investors with less experiences would wait and hope for the 4th swipe just to exit eventually at the support/resistance range of 27.75-28.25 THB per share. After dropping to the support zone between 24.50-24.70 THB per share (exactly the same level of swipe #2 correction) which dragged the MACD signal into the negative side, BGRIM prices are now ranging in between the two major support/resistance zones. The breakout from this trapped area will surely follow. But in which direction would that breakout be ? We will know that soon.

Investors can also observe from this chart that drawing fan lines can help in investment decisions such as help in taking profit and exit the market at swipe #3. Doji and Bearish Engulfing candlestick bars at the peak of swipe #3 also help in suggesting the following retreat of share prices afterward. Practicing to tell stories hidden in the chart is a crucial part of profitable investment since the chart structures tell all and they never lied. So keep learning and good luck in your investment journey !

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