HIGH PROBABILITY SETUP ON MOIL LTD
Few takeaways from my analysis on MOIL LTD.
1.Inverse head& shoulder pattern breakout: stock broke out of the pattern(neckline resistance) after long consolidation period.
2.Volume spurt: breakout supported by decent volume, indicating bullishness.
3.Moving averages : stock trading above 20MA And 50MA on weekly chart, Also trading above 50MA and 200MA on daily.
4.RSI: breaking out of weekly resistance on rsi and trading above 60.
Short term view: Bullish
Timeframe used : weekly
Short term Target : 210
Note : entry not yet triggered , wait for a retest of neckline to enter.
Disclaimer: These are just my personal observations and not trading or investment tips , please do your own research or consult an investment advisor before doing any investment or trading.
1.Inverse head& shoulder pattern breakout: stock broke out of the pattern(neckline resistance) after long consolidation period.
2.Volume spurt: breakout supported by decent volume, indicating bullishness.
3.Moving averages : stock trading above 20MA And 50MA on weekly chart, Also trading above 50MA and 200MA on daily.
4.RSI: breaking out of weekly resistance on rsi and trading above 60.
Short term view: Bullish
Timeframe used : weekly
Short term Target : 210
Note : entry not yet triggered , wait for a retest of neckline to enter.
Disclaimer: These are just my personal observations and not trading or investment tips , please do your own research or consult an investment advisor before doing any investment or trading.
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