BBCA Buy on Breakout

Weekly Chart > Indicator: MA100 & 200, MACD & Stochastic Default Setting
- MA > The last price in weekly chart moving above MA100 and the MA100 moving above MA200, which mean the price still moving in the good uptrend side
- Stochastic > Down to over sold area
- MACD > MACD line cross down the signal line in positive area and the histogram seen negative

Daily Chart > Indicator: MA100 & 200, MACD & Stochastic Default Setting
- MA > Price moving in the uptrend area but is experiencing sideways in several weeks due to ATH resistance
- Stochastic > Over sold
- MACD > Sideways signal and small histogram

Fundamentals:
Income Statement > BBCA income summary shows a relatively stable increase even though in 2020 there was a decrease in net income from the previous year
https://www.investing.com/equities/bnk-central-as-financial-summary

Strategy:
Buy BBCA when Weekly Chart breakout from the resistance area which will be retested the price in the 35600-36975

Purchases can be made for 1-2 ticks above the resistance area in anticipation of a false breakout and place a stop loss if necessary

The Fibonacci cluster line shows the resistance area after the breakout will occur in the 45800-47775 area and can be used as a profit target

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- All material contained in this content is for educational purposes
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