CONFIPET ANALYSIS

Daily charts of CONFIPET. (OPEN THE CHART ABOVE TO UNDERSTAND THIS DESCRIPTION BETTER)

Gave a long accumulation for 4 months in 2020
Shot up after a breakout price action
Consolidating again in the purple zone
This purple zone can act as a Re-accumulation zone (if price breaks from the upper side of the range) or as a distribution zone (if price breaks from the lower range of the zone)
Also taking support of the year old trendline (green)

LONG trade if breaks from the upper range
Entry: Above 65 (must sustain above 65)
Targets: 72 (10%), 75 (14.5%), 83 (26%). 92++
Stop loss: 60
TRAIL STOP LOSS

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