Daily charts of CONFIPET. (OPEN THE CHART ABOVE TO UNDERSTAND THIS DESCRIPTION BETTER)
Gave a long accumulation for 4 months in 2020 Shot up after a breakout price action Consolidating again in the purple zone This purple zone can act as a Re-accumulation zone (if price breaks from the upper side of the range) or as a distribution zone (if price breaks from the lower range of the zone) Also taking support of the year old trendline (green)
LONG trade if breaks from the upper range Entry: Above 65 (must sustain above 65) Targets: 72 (10%), 75 (14.5%), 83 (26%). 92++ Stop loss: 60 TRAIL STOP LOSS
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