Ideal setup for swing trade with multiple buy signals - Alcargo

Read the chart from left to right for a clear understanding.
Stock: Allcargo
Trade type – Swing
Buy level: 348.10 (above breakout candle)
SL: 318.75 (below the breakout candle)
Target: 398
Risk/Reward ratio: 1.7

The setup uses price action and two indicators – RSI & MACD for confirmation of the signal.
Chart formed a Gap on 02nd November. Gaps are formed due to strong buying/selling interest. These gaps are considered to act as strong support levels on the chart.

Rationale behind the bullish view:
- Price recently took support at the gap range and reversed its direction and started making higher highs and higher lows.
- The latest Strong green candle accompanied by good volumes broke out above the previous high.
- Price making lower lows but RSI making higher lows. This is a positive divergence indicating buying interest
- RSI above 55 and trading above its EMA indicates buying strength.
- MACD crossed over the signal line confirming the trend.

Taking the trade:
- The buy level is slightly above the breakout candle. The buy trade can be executed on an hourly timeframe if the price sustains above the breakout candle high.
- If the trade works out as expected, Although the target and SL are fixed in this trade, both should be shifted up when the price makes a higher high and higher low.
- Strict stop loss should always be followed for risk management.

This is not a buy/sell recommendation. I'm posting my analysis here to track it and to learn from the community.
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