Hello friends, Hero motors giving a breakout on the falling trendline resistance of a symmetrical triangle as you can see before this breakout price gives a breakout on horizontal resistance and retest that breakout too so we can consider to go long in it for the target of 3500 with taking a stop loss of 2750 below on horizontal resistance on weekly closing basis.
Apart of price action i checked this breakout on some indicators sharing below.
EMA
Price is trading above all moving averages likewise 20,50,100,200 Ema.
RSI INDICATOR.
rsi also retested now moving up
MACD ALSO GOING FOR MORE POSITIVE.
SUPERTREND ALSO POSITIVE.
TARGET.
NOTE- Only for Education Purpose.
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Apart of price action i checked this breakout on some indicators sharing below.
EMA
Price is trading above all moving averages likewise 20,50,100,200 Ema.
RSI INDICATOR.
rsi also retested now moving up
MACD ALSO GOING FOR MORE POSITIVE.
SUPERTREND ALSO POSITIVE.
TARGET.
NOTE- Only for Education Purpose.
Please Give A Like If You Like
Comment:
DAILY CHART ALSO IMPROVING MAKING FRESH SUPPORTS TODAY REACHED 3200+ FROM 2968 LEVELS GAINED GOOD SO I WILL TRAIL STOP ON MY ENTRY PRICE FOR THE MENTIONED TARGET
Comment:
REACHED 3249 FROM 2974 GAINED 9% SO FAR AND NOW PRICE AGAIN TRY TO BREAK A CONSOLIDATION RANGE ABOVE RESISTANCE, IF THIS RESISTANCE WILL BREAK AND CLOSE ABOVE, WE CAN SEE MENTIONED TARGET IN COMING DAYS AND I WILL ADD MORE AFTER THIS FRESH BREAKOUT
Trade closed: target reached:
Done 3500 target from 2975
