It had broken descending triangle recently and now closed above the resistance of same pattern. Also it had broken down uptrend trend line support which is now invalid due to strong close above it.
This means this stock will continue its up trend with more power.
One can wait till end of this month (1 more week) for more confirmation.
I would buy it on retest of red zone
This means this stock will continue its up trend with more power.
One can wait till end of this month (1 more week) for more confirmation.
I would buy it on retest of red zone
Trade closed: stop reached:
Couldn't sustain above support zone
So lesson learned is wait for successful retest of resistance level after it has broken
In this case, even though it closed above resistance, it failed to retest the level and go up again from same level
So lesson learned is wait for successful retest of resistance level after it has broken
In this case, even though it closed above resistance, it failed to retest the level and go up again from same level