How to Trade CANFINHOME
📊 Technical Overview:
Current Price Action: CANFINHOME opened at 695 and closed at 718.1, reflecting a positive move from the previous close of 703.35. The stock has formed a Bullish Engulfing pattern, signaling potential for upward movement.
Key Indicators: The stock is above its 50-day EMA (683.65) and 100-day EMA (697.54), indicating a bullish outlook in the short to medium term. The 200-day EMA (729.91) remains an important resistance.
Volume Analysis: There was a significant increase in volume (208281) compared to the previous day’s volume (246890), indicating potential strength.
🔍 What to Watch:
Resistance Levels: Watch for resistance at R1 (728) and R2 (738). A breakout above these levels could target R3 (754).
Support Levels: S1 (702) and S2 (685) are important support levels to monitor. A break below S1 could suggest a reversal or consolidation.
Bullish Patterns: The Bullish Engulfing pattern and strong bullish candle support an upward move.
🧠 STWP Insights:
Momentum to Watch: CANFINHOME is showing signs of bullish momentum, and RSI breakout could indicate further upward potential. A breakout above R1 (728) would open doors to higher levels.
Swing Trade Potential: Watch the stock for possible swing trade opportunities if it holds above S1 (702), targeting R2 (738).
📌 Disclaimer:
This post is for educational and informational purposes only. It does not constitute investment advice or a recommendation. Please consult your financial advisor before making any investment decisions. STWP and this post are fully compliant with SEBI regulations and promote responsible market learning.
📊 Technical Overview:
Current Price Action: CANFINHOME opened at 695 and closed at 718.1, reflecting a positive move from the previous close of 703.35. The stock has formed a Bullish Engulfing pattern, signaling potential for upward movement.
Key Indicators: The stock is above its 50-day EMA (683.65) and 100-day EMA (697.54), indicating a bullish outlook in the short to medium term. The 200-day EMA (729.91) remains an important resistance.
Volume Analysis: There was a significant increase in volume (208281) compared to the previous day’s volume (246890), indicating potential strength.
🔍 What to Watch:
Resistance Levels: Watch for resistance at R1 (728) and R2 (738). A breakout above these levels could target R3 (754).
Support Levels: S1 (702) and S2 (685) are important support levels to monitor. A break below S1 could suggest a reversal or consolidation.
Bullish Patterns: The Bullish Engulfing pattern and strong bullish candle support an upward move.
🧠 STWP Insights:
Momentum to Watch: CANFINHOME is showing signs of bullish momentum, and RSI breakout could indicate further upward potential. A breakout above R1 (728) would open doors to higher levels.
Swing Trade Potential: Watch the stock for possible swing trade opportunities if it holds above S1 (702), targeting R2 (738).
📌 Disclaimer:
This post is for educational and informational purposes only. It does not constitute investment advice or a recommendation. Please consult your financial advisor before making any investment decisions. STWP and this post are fully compliant with SEBI regulations and promote responsible market learning.
Trade closed manually
R2 almost achieved
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.