Technical summary -
1. Stock was in a long term downtrend
from 2017 highs of 320
2. Higher high and higher lows formation
that indicates trend reversal
3. Rounding bottom pattern was clearly
visible in weekly chart followed by a
breakout with big volumes
4. Last time when similar volumes were
seen then stock made a big rally from
100 to 320 in a very short term duration
5. Inv head and shoulder on weekly chart
also denotes bottoming out and stock is ready
for uptrend
Sentimental aspects -
1. All brokerage stocks are making new
highs, this stock looks ready for rally
Trade -
Go long and keep a stop loss of closing
below either 90 or 80 depending on your
risk appetite
Targets are 151 and 199
Good luck.
1. Stock was in a long term downtrend
from 2017 highs of 320
2. Higher high and higher lows formation
that indicates trend reversal
3. Rounding bottom pattern was clearly
visible in weekly chart followed by a
breakout with big volumes
4. Last time when similar volumes were
seen then stock made a big rally from
100 to 320 in a very short term duration
5. Inv head and shoulder on weekly chart
also denotes bottoming out and stock is ready
for uptrend
Sentimental aspects -
1. All brokerage stocks are making new
highs, this stock looks ready for rally
Trade -
Go long and keep a stop loss of closing
below either 90 or 80 depending on your
risk appetite
Targets are 151 and 199
Good luck.
Comment:
Trade is active.stock opened with a gap up, I bought it at 114 and holding patiently.