NeeteshJain

ACC - Powerful Breakout

Long
BSE:ACC   ACC LTD
It has been observed on the daily chart that the price action strongly breaks above the triangle formation pattern with a long candlestick that did not have a lower wick, indicated full control of buyers on price action. Now, it shall further move up to all time highs.

T1- 1875
T2-1900
SL-1810
Trade active
Trade active
Trade closed: stop reached: Stop Loss breached and now trading at 1795. It can be further hold until it closes below 1790 on daily candle. Thanks
Comment: Important Levels to hold long

Comments

Price likely to take support at the trendline?



+1 Reply
@VPS, Rightly observed. Good analysis mate. Thanks for sharing.
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VPS NeeteshJain
@NeeteshJain, You're the boss, though!
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formed a Doji next to it...
+1 Reply
NeeteshJain GuruInvestments
@GuruInvestments, Yes, it did but the significance of it will depend on the next candle, which is today's price action and forming of candlestick. Thanks
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RSI show divergence will it affect....
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NeeteshJain UnknownUnicorn1063347
@UnknownUnicorn1063347, As I said before, in trending markets RSI and MACD do not affect much. This stock is trending and the trend shall continue until it drops below 1790 levels. Thanks
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@NeeteshJain, like i said b4 ......
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NeeteshJain UnknownUnicorn1063347
@UnknownUnicorn1063347, Yes, you're right on the RSI divergence but understand that the trend is still up until price action closes below 1790 on daily chart. Thanks for sharing.
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