Descending wedge with double bottom !!
מעודכן
Stock after correcting by more than 10% from its high levels, has formed descending wedge and also kind of double bottom at 756 levels on daily chart.
Also, the gap area of 760-800 (formed in October) has been filled. We can see subdued volume action during the retracement.
Now, one can consider long position at cmp or wait for the breakout above upper trendline, with a SL of 740 on weekly CB, for the targets of 785 and 810 with more than 1:2 RR.
Kindly do your analysis before initiating trade.
Also, the gap area of 760-800 (formed in October) has been filled. We can see subdued volume action during the retracement.
Now, one can consider long position at cmp or wait for the breakout above upper trendline, with a SL of 740 on weekly CB, for the targets of 785 and 810 with more than 1:2 RR.
Kindly do your analysis before initiating trade.
עסקה סגורה: הגיע לסטופ
כתב ויתור
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