@syamchandran, In a bullish move every price is a best price to enter, if you are convinced & satisfied with the probable return. we must not chase the price.
There are many approaches technically, watch for the supports like a trend line or find an appropriate moving average where the stock it touching next time.
A wise investor must know his stock in advance.
EliteInvestorIN
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Not moving
padiyara
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@EliteInvestorIN,
it is a valid breakout with increased volume & delivery quantity.
Technically, the stock is over sold and indicators showing improvement towards bullishness.
it is quiet normal for a stock to retest its supports after such break out, and one cannot expect a straight line upward journey.
WaveTradersproGroup
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@padiyaraa, is it not a Corrective B wave form Higher time frame ?? it will spike up few points then it may start heading down
padiyara
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@Kimara, You may be right. there is no dispute in wave count, because our counts will never be confirmed until the pattern completes.
I mean, a classical Elliot wave count says, start of wave b can look like wave 1, and the wave c is almost like wave 3.
Here the correction was an abc zigzag, if it is wave B started now, it can make a move equivalent to A at-least.
And if corrective completed, then we are in wave III.The structure will be fast and furious and must go huge up side.
My target is very nominal,and wise this is to observe the move at resistance area, will give a hint.
This following was done in a fast phase , just for this discussion. Dont take it granted :D
Not free to make long and detailed writing...
WaveTradersproGroup
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@padiyaraa, Well thanks for your explanation, even your chart is very clear , then after a 5 impulsive move we noted ABC correction , then the move is not in pulsing way , so we can consider the End of C as Wave (W) and then look for another ABC Correction in the direction of Impulsive wave but slow price action as (X) Wave , Thanks again for your time and Energy ,
Grate day Ahead
Regards
Kimara