Positional or Long term Opportunity in Craftsman Automation
Go Long @ 4160.1 for Targets of 4456.75, 4753.4, 5050.05 and 5346.7 with SL 3863.45
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.382 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around the 0.382 Fibonacci level.
3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
Reasons to go Long :
1. On a Weekly timeframe if we draw the Fibonacci retracement tool from the recent swing low (point A) to the recent swing high (point B) then we see stock took support from the 0.382 Fibonacci level.
2. In addition to this a bullish candlestick pattern Bullish Hammer (marked with orange color) is formed around the 0.382 Fibonacci level.
3. Also there is a strong Trendline (marked with green color), from which the stock is taking support and moving up.
Trade active
Trade closed: target reached:
Target 1 achieved