techtrail

Coromandel Intl: Will The Breakout Happen?

Long
NSE:COROMANDEL   COROMANDEL INTL
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3
Your guess is as good as mine with respect to the above question. Better to wait for the price to display its intentions. A breakout past the high of the trading range would be a positive outcome and could propel the stock into a mark-up phase.

Please be reminded that, this is a monthly chart and it makes sense to wait for monthly close above the range before jumping to conclusions.

Comment: Price has managed to edge above the upper end of the trading range. If we get a strong close today (weekly close), it would be a major sign of strength and could mark the start of a big trending phase. This stock is in my watchlist and comes across as a Wyckoff Reaccumulation candidate