BHANSALI ENG POLYM Breakout prediction long opportunity
BHANSALI ENG POLYM is a Process Industries/ Industrial Specialties stock that have been consoladating for past 7-Months. by looking the volume spike it seems bulls will be taking the stock to outside the channel now. once breakout is successful, after little consolidation it can give a very nice Risk:Reward :: 1:3 Approx.
Reasons:
Verdict:
Bullish Breakout is about to happen
Plan of action:
Entry after consoladition
BUY: 98-100 after consoladition
Stoploss: 96
Target: 111
Reasons:
- RSI is crossing 60 to upside. (Bullish)
- 200 EMA have been providing a nice support for very long time. In History also it has been a nice support and resistance.
- Rectangle Pattern breakout is about to happen. If it gives a popout candle then you may go long by putting a small stoploss.
- Price > EMA(13,50,200) which shows bullishness. but as it has been a trendy momentum for past 2 weeks. I am expecting it to give little consolidation outside the channel and then bullish momentum.
Verdict:
Bullish Breakout is about to happen
Plan of action:
Entry after consoladition
BUY: 98-100 after consoladition
Stoploss: 96
Target: 111
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.