AWC TECHNICAL ANALYSISTechnical analysis for AWC Stock based on Trend Analysis, Chart Pattern and VPA
1) In Monthly TF
- Rounding Top pattern formation completed. Dec 2021 candle has break the DTL.
- Current price candle trend had significance retracement and rebound at Fibonacci 0.786 indicate new trend establishing itself. Current uptrend movement move higher with increasing volume, volume validate the price action.
- Latest OCT 21 monthly candle shows a body candle with long upper & lower wick accompany by high volume compare to previous volume indicate strong selling & buying pressure occur in the market with buyer has edge out. As long the price action maintains the UTL, the Primary Trend-uptrend movement will continue.
2) In Weekly TF
- Retracement has occur from 12 Apr 2021 to 9 Aug 2021 with price candle move downward along the Downtrend Channel with volume decreases indicate the Market Maker use this downtrend movement to shake out retailer and fill up their warehouse. 30 Aug 2021 candle has begun the uptrend movement.
- Current price candle trend moves upward with several long bullish candle and high volume indicate healthy uptrend movement with highest VAP in 0.455-0.475 area are considered strong support.
- Latest 15 Nov 21 Weekly candle show a Doji Star candle with very long upper wick accompany by very high-volume signal significance selling pressure occur in the market. Price may accumulate with in uptrend channel for several week to remove this seller and establishing new support. As long the price action maintains the Uptrend Channel, the Primary Trend-uptrend movement will continue.
3) In Daily TF
- Overall trend still maintaining the immediate Support line at price 0.545 and maintaining the Uptrend Channel pattern with highest VAP in 0.545-0.555 area are considered as strong support.
- Current daily price candle trend is retraced after the price touch the upper Uptrend Channel line with decreased volume indicate abnormality suggest price may move lower to lower Uptrend Channel line.
- Latest 19 Nov 21 candle give a Bearish candle with lower wick accompany by significance volume give possibility this is Testing-Supply candle with negative result due to significance. Price may move lower breaking the Descending Triangle pattern towards lower Uptrend Channel line to remove the remaining seller. As long the price action maintains the Uptrend Channel, the Secondary Trend-minor downtrend is temporary, and the Primary Trend-uptrend movement will continue.
*Please take note this idea for learning purposes and NOT A BUY CALL.
