Positional or Longterm opportunity in Divis Lab
Go Long above 3568.9 for Targets of 4070, and 4389.7 with SL 3295.3
Reasons to go Long:
1. On a Weekly timeframe the stock gave Trendline breakout.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
Reasons to go Long:
1. On a Weekly timeframe the stock gave Trendline breakout.
2. If we draw the Fibonacci retracement tool from the swing low (point A) to the swing high (point B) then we see stock took support from the 0.5 Fibonacci level.
3. Also a bullish candlestick pattern Bullish Engulfing (marked with orange color) is formed around 0.5 Fibonacci level.
Trade active
Trade closed: target reached:
Target 1 achieved