is coming out of a 2 year range with strong volumes. It first attempted to break free from the range in mid July, but could not sustain above the range high. It has now corrected and is approaching a strong demand zone
@ 525-30 Levels. The Fibonacci re-tracement level of 61.8 also confluences with the demand zone
. The RSI
levels also show support in 50 zone. The volumes on correction have been thin suggesting it to be a pullback rather than a reversal from top.
Going long @ 525-30 levels stands high probability of bring in a profitable position. The risk reward also stacks up well.
One can buy Albert David
@ 525-30 levels with a DCB Stop of 495 to take profits off when price crosses 620 ( tgt
- 1) or 720 ( tgt