BEL - Bullish Bomb - Target # 447 and Target # 2 493 - Long
BEL has a very very lofty target based on following analysis
1) Trend already revised from 61.8 % golden ration Fibonacci extension and already have had 3 breakouts already.
2) 50 DMA > 200 DMA and diverging
3) ADX > 25 and rising
4) Fibonacci retracement and Fibonacci extension shows cluster at 447 and 493 and hence highest probability of achieving these targets.
5) Price consistently trending above Supertrend (14,3) and 50 DMA
Idea for academic purpose and not recommendation for investment.
1) Trend already revised from 61.8 % golden ration Fibonacci extension and already have had 3 breakouts already.
2) 50 DMA > 200 DMA and diverging
3) ADX > 25 and rising
4) Fibonacci retracement and Fibonacci extension shows cluster at 447 and 493 and hence highest probability of achieving these targets.
5) Price consistently trending above Supertrend (14,3) and 50 DMA
Idea for academic purpose and not recommendation for investment.
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