BALAJI AMINES LONG-TERM INVESTMENT OPPORTUNITY
Hello traders!
Key points: Weekly chart study
🎯The Falling Wedge pattern is complete, and the share price is ready to move up.
🎯It appears that a double bottom has formed, the stock has made a lower low, and now the price is ready to move higher.
🎯The price seems to be getting support on the weekly chart.
🎯A bullish crossover has formed on the MACD oscillator.
🎯Volume remains bullish, indicating the share price is ready to move up.
Major Level:
Support Price Level: 2002.25
Resistance Price Level: 2797.70
Entrance Area:
The optimal entry offers the greatest reward-to-risk ratio, while the optimal entry is an area for reversal signals.
Optimum Entry Nearby, - 2002
Stop loss: the weekly candle closes below 2002.25.
Target Price 1st: - 2546.95
Target Price 2nd: - 3844
Risk:
As traders, it is your job to minimize risk and only choose trade structures that offer high probability and a great reward-to-risk ratio.
If uncomfortable with defined exit levels, experiment with support levels to help set solid exit rules to protect your capital.
If the weekly candle closes below the price level of 2002, this suggests that the structure is not in our favor, and it would be wise to reduce risk or close the trade until a solid signal gives us a reason to re-enter.
Hello traders!
Key points: Weekly chart study
🎯The Falling Wedge pattern is complete, and the share price is ready to move up.
🎯It appears that a double bottom has formed, the stock has made a lower low, and now the price is ready to move higher.
🎯The price seems to be getting support on the weekly chart.
🎯A bullish crossover has formed on the MACD oscillator.
🎯Volume remains bullish, indicating the share price is ready to move up.
Major Level:
Support Price Level: 2002.25
Resistance Price Level: 2797.70
Entrance Area:
The optimal entry offers the greatest reward-to-risk ratio, while the optimal entry is an area for reversal signals.
Optimum Entry Nearby, - 2002
Stop loss: the weekly candle closes below 2002.25.
Target Price 1st: - 2546.95
Target Price 2nd: - 3844
Risk:
As traders, it is your job to minimize risk and only choose trade structures that offer high probability and a great reward-to-risk ratio.
If uncomfortable with defined exit levels, experiment with support levels to help set solid exit rules to protect your capital.
If the weekly candle closes below the price level of 2002, this suggests that the structure is not in our favor, and it would be wise to reduce risk or close the trade until a solid signal gives us a reason to re-enter.