Hello friends I am sharing a Positional Breakout on Monthly time chart of AB capital as you can see that stock was trading into a triangle pattern earlier and currently after breaking the resistance of that Triangle now it is very well sustained above that resistance trendline considering as support so I am taking this as a positional breakout because I am using monthly time frame chart for this idea and breakout so I am looking that bullish momentum will continue in this stock in coming months for the potential targets of 196 levels and 250 levels with the stop loss of 131 below close on monthly candle, on the other hand price is trading above on all moving averages that is 20, 50, 100, 200 EMA on Daily and Weekly chart from the bottom you can see I plotted RSI indicator which showing the strong signs of good strength with Higher Lows and Higher highs and Current levels is 60 plus RSI on monthly chart and that is good enough after a reversal in stock which is very important for uptrend continuations, The targets are looking so lucrative according to risk to reward ration and that is stop loss is 14% against the Target 1 of 28% and second Target is 62% with the same stop loss of 14%.
TARGETS AND STOP LOSS-:
CAUSE OF LONG-: 1-: Triangle Breakout.
2-: RSI INDICATOR STRENGTH.
3-: Apart of Technical Company is posting consecutively good results from 2018 with higher revenues and with Growing net profits too.
NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk
IF MAKING 52 WEEK HIGHS IS GOOD SENTIMENT THEN STOCK DID A 52 WEEK HIGH TODAY RALLIED 5% TODAY ON DAY HIGHS, GAINED 8-7% FROM PUBLISHED PRICE βοΈβοΈ
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GOOD GOING WITH NEW 52 WEEK HIGH
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GOOD CLOSE ON 52 WEEK HIGHS
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MAKING NEW 52 WEEK HIGHS, REACHED 170 GAINED 11% SO FAR
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DAILY NEW 52 WEEK HIGH, GOOD SIGNS IF PRICE SUSTAING ABOVE 170