EMS LTDLong
Entry at Support
Updated
This trade is based on Exponential Moving Average (9 &15) considered in the Weekly Time Frame.
A trade can start at the current level (Entry between 795 to 780). Maximum risk to be considered is 5% to 6%. However a strong Candle closing below 740 level will indicate EXIT from the trade.
The stock can show upward movement as below:
1) 1st Target is 20% from current level
2) 2nd Target is 30% from current level
3) 4th Target is 50% from current level.
**All targets to be observed in Weekly time frame**
A trade can start at the current level (Entry between 795 to 780). Maximum risk to be considered is 5% to 6%. However a strong Candle closing below 740 level will indicate EXIT from the trade.
The stock can show upward movement as below:
1) 1st Target is 20% from current level
2) 2nd Target is 30% from current level
3) 4th Target is 50% from current level.
**All targets to be observed in Weekly time frame**
Trade active
It's been a long wait!
Our Stop Loss is still active as there was no strong candle close below 740.
The stock is about to achieve its 1st target. Upon achieving, we will wait for next targets.
The level of 740 has acted as a strong support as the market behavior suggests the level to be very good for buying. The overall market sentiment is also shifting towards positive after 2 months. This may drive the stock towards a new high paired with strong financials. The company's Revenue has been increasing YoY and is expected to show better margin % YoY.
Will keep updated. Meanwhile all positions in this Stock should be on hold for better targets.
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