JAG BHD(0024): Bullish Implication !!! It ready to go test 0.250/0.265/0.280/0.310.

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Weekly Trend
I like to look in to weekly trend in order to determine the direction of the stock either will go north or south,  JAG Bhd weekly trend, I concluded this counter uptrend is on going, which will going to accelerate once it breakout from the 0.250 immediately it will heading to 0.320.

Technical justification on bullish implication

1. Two consecutive wave 3 development is on going, double wave 3 is consider is bullish signature to Elliot wave trader
2. Two consecutive wave 3 development is on going, double wave 3 is consider is bullish signature to Elliot wave trader.
3. MACD Cross over to indicate reversal take over
4. Stochastic stay above 50 and below 80, it is bullish indication and momentum should continue.
5. MACD bullish hidden divergent to tell the trend continue.

Daily Trend

We unfold the chart to another level which is daily chart, I am very detail person in trading, Stock/FX Trading is a serious business, it like we going to the WAR with all ours partner, we better do ours homework if I want to commit to the trade. it is very important to know why I buy this stock

Unfold Elliot wave in daily chart.

The smaller chart(at left hand down corner) is the weekly trend ,Black box is the period of the main chart I wanted to share, you can see we had total of three consecutive  wave 3 pointing to the north and its is very bullish implication ( weekly (3),3. 3 )

Daily Chart, Elliot Wave

Wave 1 

This pattern is define trend pattern, which is all 1-3-5 is approximately same length, it is very common pattern

Wave 2

This pattern has been define as a complex correction pattern in which each wave itself is correction wave, the X wave should retrace more than 61.8% to qualify as WXY.

Wave 3 

smaller wave degree wave 3 is confirm, once the price break away from 0.225, the price will accelerate to north 0.250

Down trend trend line broken

1. Downtrend channel line break and give signal reversal take over
2. Downtrend trend line broken, most likely the trend will continue to raise up

Inverted Head and Should ; Support Resistance.

1. Inverted head and should formation, neck line(resistance tested) and most probability it will be break.
2. Immediate support is 0.215 follow by 0.195
3. Resistance line 0.225/0.25/0.265/0.280/0.305

Summary of Technical Justification on Bullish Trend.

1. Three difference time frame consecutive wave 3 is pointing to north.
2. Weekly MACD Cross over to indicate reversal take over
3. Weekly Stochastic stay above 50 and below 70, it is bullish indication and momentum should continue.
4. Weekly MACD bullish hidden divergent to tell the trend continue up
5. Daily impulse Wave 3 under development and it eve ready to break the resistance and heading to north.
6. Downtrend  trend line broken, most likely the trend will continue to raise up.
7. Inverted head and should formation, neck line(resistance tested) and most probability it will be break.

My Trade plan

Stop loss

1. Early SL 0.215
2. Late SL 0.195
3. Trailing SL : 0.230( I will apply right after break out)

Profit Target.

1. Conservative Target : 0.250
2. 1st Target : 0:265
3. 2nd Target 0.280
4. 3rd Target 0:305(long Term).

As a reminder for myself
I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.
Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.

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