Good for a Swing trade.
This stock has been in a consolidation phase since very very long time. Expect it to break on either side of the triangle.
But I'm more positive on the upside as the price is hovering around the 200 EMA.
It's sitting perfectly on the lower base of the triangle. One can initiate a buy now as the risk to reward will be very suitable. One can increase the quantity if there's a breakout on the upside.
Upside targets are as given in the pic: @6.5 %, 9.35% & 15%
SL : Below the triangle.
PS- If things go south, close the position & go short.
This stock has been in a consolidation phase since very very long time. Expect it to break on either side of the triangle.
But I'm more positive on the upside as the price is hovering around the 200 EMA.
It's sitting perfectly on the lower base of the triangle. One can initiate a buy now as the risk to reward will be very suitable. One can increase the quantity if there's a breakout on the upside.
Upside targets are as given in the pic: @6.5 %, 9.35% & 15%
SL : Below the triangle.
PS- If things go south, close the position & go short.
Comment:
LOOKS LIKE A BREAKDOWN.