Balrampur Chini Is Poised For A Huge Move
-Stock broke out of a downward channel and then consolidated for a few weeks with volumes drying up.
-Stock broke out yesterday after consolidation, confirming a double bottom and an inverted head & shoulder pattern.
-Stock also broke above a long-term resistance line that has been tested multiple times over the years.
-Breakout was on high volume.
-Stock sustaining above 50 DMA which has acted as resistance in the past.
-Huge bullish divergence on RSI.
-Bullish divergence on Stochastic.
-Huge Bullish divergence on MACD along with MACD line crossing over 0.
-Bullish divergence on weekly MACD, RSI, and Stochastic as well.
Not n investment advice. Do your own due diligence.
Disclosure: Invested.
-Stock broke out yesterday after consolidation, confirming a double bottom and an inverted head & shoulder pattern.
-Stock also broke above a long-term resistance line that has been tested multiple times over the years.
-Breakout was on high volume.
-Stock sustaining above 50 DMA which has acted as resistance in the past.
-Huge bullish divergence on RSI.
-Bullish divergence on Stochastic.
-Huge Bullish divergence on MACD along with MACD line crossing over 0.
-Bullish divergence on weekly MACD, RSI, and Stochastic as well.
Not n investment advice. Do your own due diligence.
Disclosure: Invested.
Comment:
About freaking time!!!!