D-Link has formed a textbook Symmetrical pattern that has worked out so far
Although it is a bullish pattern one should wait for breakout confirmation to enter. Those who want to minimize the risk should wait for retest and may enter after confirmation. The breakout must also be validated by the volumes or else it'd be just another Fakeout.
According to Fibonacci Extensions after breakout 168.70 is immediate resistance might consolidate there for a while On the downside 144.15 / 136.60 / 129 / 119.65 are support levels
Company also has decent fundamentals
It's long call so one can keep stop loss according to their risk appetite.
Comment
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Gave breakdown, now wait for the next support and enter at the right time
Trade active
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The trade is active again, It has reached it's breakout level If planning to enter then enter above 153 as a safe bet with targets of 208 intact Closing above 153 would be a good confirmation of a breakout. Those who wanna play safe wait and enter after breakout confirmation and put a trailing stop loss accordingly.
Great technical analysis bro , I think it will give break out. BUY BUY BUY...
sandeshprabhu85
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@Suhas7777, Although the chances of breakout are high and it is a fundamentally good stock yet i'd always prefer to enter after breakout or breakout retest confirmation as a safe bet. Just be patient and let the pattern workout