Let’s give a round of applause to @blitzkrieg08 for being this week’s Featured Trader!
@blitzkrieg08 has been a member of the Investagrams community since July 2018 and has been active recently. He is always sharing his thoughts and his trades.
A week ago, our featured trader posted his technical analysis on $FCG, a hot stock in the local market. $FCG recently breakout at the 0.6 level and is now at 0.65ish!
As the stock is on an uptrend, @blitzkrieg08 charted its support, resistance, MA, Ichimoku Cloud, and RSI on the chart, bound for a breakout or breakdown. @blitzkrieg08 felt an opportunity to have a good entry near the support and sell around the resistance.
TECHNICALS OF THE TRADE
Technically speaking, $FCG recently broke its minor resistance at the 0.6 level and is bound for a consolidation, breakout, or breakdown. After breaking out at the 0.6 ish, FCG’s volume surges along with its RSI. While others are falling, $FCG is showing strength in terms of volume as it continues to consolidate after breaking out at 0.6ish. It came from a breakout at the 0.6 area before surging and trying to break the 0.67ish area onwards. There could be a retest in the next few weeks as FCG and PSE stocks are affected due to global events. Technically speaking next resistance FCG could face is the 0.7 level onwards. Furthermore, FCG will retest whether it will surge more or will be back being more bearish.
@blitzkrieg08 was confident that prices would go up as he indicated in his chart the supports, resistances, MA, Ichimoku Cloud, and the RSI. He charted a good entry near the support and possible resistance to overcome.
FUNDAMENTAL CATALYST
Figaro Coffee Group, Inc. is the listed food sector of the LIU family of Cirtek Holdings. The company’s products are Figaro Coffee, Angel’s Pizza, Cafe Portofino, and Tien Ma’s. Furthermore, $FCG has been consolidating, and the volume from the locals is increasing. In addition, $FCG was recently IPOed on January 24, 2022. It is still unknown whether $FCG will push further or be back on track on the bearish side. In addition, FCG’s book value as of 3Q 2021 is at 0.33 per share. Thus, it is best to observe $FCG before entering since it was listed recently, and the growth could be affected due to global events and inflation. Further to that, it is best to consider the market sentiment. In addition, consider the technical indicators and the financial statements as they are vital parts of the stock.
WHAT SHOULD BE MY NEXT MOVE
As the stock recently breakout from the 0.6ish area, it would be wiser to observe and wait for what $FCG might do next before riding in. It is still unsure whether $FCG will continue to surge, so it’s best to wait for a consolidation, pullback, or a good entry near its support for a better risk-to-reward trade. In addition, it is best to have alternative stock picks that are more profitable and good to trade alternatives like bottom picking stocks or stocks that could surge due to global demand or sectors that could be more profitable. Furthermore, it would be advisable to trade lightly and in tranches.
Once again, KUDOS to @blitzkrieg08 for being this week’s featured trader! Enjoy your 14-day InvestaPrime Access and continue to be an inspiration to the trading community.
