APL Apollo Tubes has completed one full motive wave and related corrective wave in the form of a zigzag. All the wave markings are given in the chart.
One may consider going long on the stock with an initial target of 0.786 fibo retracement of the corrective wave. Stop loss is considered below 1.618 fibo retracement of Wave 2-3 to 4 of wave C of the corrective structure providing a risk-reward ratio of over 2.5x.
Will update the further targets as the stock waves unfold.
Happy Trading !!
One may consider going long on the stock with an initial target of 0.786 fibo retracement of the corrective wave. Stop loss is considered below 1.618 fibo retracement of Wave 2-3 to 4 of wave C of the corrective structure providing a risk-reward ratio of over 2.5x.
Will update the further targets as the stock waves unfold.
Happy Trading !!
ChartTheWave |
Join my telegram channel t.me/chartthewave for live updates
Join my telegram channel t.me/chartthewave for live updates
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ChartTheWave |
Join my telegram channel t.me/chartthewave for live updates
Join my telegram channel t.me/chartthewave for live updates
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.