ALBK - Lawyer back in courtroom-Trendline-Bottoms-Candlestick@67

Lawyer is back with the bank in current case as client

Previous Analysis ( Act like Lawyer)

Trendline passing through 39.40--57--67.30
Basic Application of Technical Analysis - 2 points to draw a trendline & 3 points makes a valid trendline- the more bottoms you see on this line which is coming from 39.40 lows -holding this line line supports in future as well -then you conclude it is a stronger trendline unless in future this trendline gets broken.

Double Bottoms
Lows in the zone 66.75 -67.30 has holded & can be a possible double bottom which is confirmed only if 92.40 highs is taken out on top but it has supported in the zone 66.75-67.30.

Bullish Candlestick Pattern
3 candlestick pattern know as Morning Star can be a good sign of reversal shown in oval shape at 67.30 lows.

What is a 'Morning Star'
A morning star is a bullish candlestick pattern that consists of three candles. The first bar is a large red candlestick located within a defined downtrend, the second bar is a small-bodied candle (either red or green) that closes below the first red bar, and the last bar is a large green candle that opens above the middle candle and closes near the center of the first bar's body or closes above the high of 1st red candle- Extreme bullish case. We have extreme bullish case.

Trading Strategy
Holding 65 on downside (Below 65 as stoploss) below expected double bottom zone of 66.75-67.30 if it starts moving above 74 then buy call can be initiated by Safe Traders. Risky Traders can buy in the zone 68-70 keeping stops below 65 because going below 65 -Downside selling pressure can be seen.

Bullish Pieces from the Lawyer to make a strong case. Let My Lord (Market) decide the result.
Trendline
Double Bottom
Bullish Candlestick Pattern


Target Zone
Can be 92 -previous high -above 92 can be 104 & above 105 can be 115.

Commentaire:

07:57 Hrs 19th June2017

Morning Candlestick Pattern under lens

Transaction en cours:

13:58 Hrs 1st July2017

Last Price@67.85

It turned above 65 which was stop loss. Made a low@65.80- on upside it did not cross 74 highs.

Transaction en cours:

11:30 Hrs 6th July2017

Last Price@69.20

Turning above 65 from lows of 65.80.

Transaction en cours:

14:22 Hrs 10th July2017

Last Price@72

65.80 - ride on.

Transaction en cours:

19:53 Hrs 17th July2017

Last Price@71.20

Double Bottom was excellent at 65-66 Zone. Protecting 65 lows & we expected to enter close - we got close with zero risk almost.

Transaction en cours:

18:55 Hrs 5th Aug2017

Last Price@71.50

This is not an intraday call. It is a positional view for 90-95 Zone above 95 for 104-105 & above 105 it it can attempt 115-120 zone where it touches the top end of the channel.

Bottom is 65 from where it has already turned upside.