Symmetric triangle breakout {Bullish}
Updated
CANARA BANK
One of the stock which can perform best with good % of retruns for long term investors...
CMP: 394.55
Technical Reasons (monthly):
1. It has made a symmetrical triangle breakout in upward direction.
2. Bollinger Bands are expanding and candles are riding the upper band though we can conclude trend is strong.
3. RSI is also in a neutral zone...
Technically on monthly charts it is very strong.. Should invest for higher returns...
Points to be carefull:
1. It is highly overbought in daily and weekly charts.
2. On daily and weekly charts RSI is above 85 and 75 respectively.
Conclusion:
Very much chances are price can be seen upto 380/370/365 regions which will be an opportunity for entering for longer term...
Targets are 450/490/550+
Stop Loss is 345
Note: Do your own study before making any position.
Please Like Follow and Comment your views below...
One of the stock which can perform best with good % of retruns for long term investors...
CMP: 394.55
Technical Reasons (monthly):
1. It has made a symmetrical triangle breakout in upward direction.
2. Bollinger Bands are expanding and candles are riding the upper band though we can conclude trend is strong.
3. RSI is also in a neutral zone...
Technically on monthly charts it is very strong.. Should invest for higher returns...
Points to be carefull:
1. It is highly overbought in daily and weekly charts.
2. On daily and weekly charts RSI is above 85 and 75 respectively.
Conclusion:
Very much chances are price can be seen upto 380/370/365 regions which will be an opportunity for entering for longer term...
Targets are 450/490/550+
Stop Loss is 345
Note: Do your own study before making any position.
Please Like Follow and Comment your views below...
Note
as expected prices are decreasing due to highly over bought conditions in weekly and daily regions... TGT1 : 380 reached more to decrease... this decrease in price will give good opportunity for entring long term :)Trade active
Trade active
Trade active
Trade active
Best Regards,
Akshat Patwa
twitter.com/MrAkshatP
facebook.com/MrAkshatP/
Akshat Patwa
twitter.com/MrAkshatP
facebook.com/MrAkshatP/
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