GLENMARK- Squeeze Buy!
Updated
GLENMARK
Attached: Daily Chart as of 31st March, 2023
Bullish Opportunity in Glenmark is clear as Price has Not Only given a CLASSIC CUP & HANDLE BREAKOUT
BUT IT is also accompanied by a Squeeze Buy Signal aka the Squeeze Release !
(Note: Squeeze is a volatility and momentum indicator introduced by John Carter, which capitalizes on the tendency for price to break out strongly after consolidating in a tight trading range. The volatility component of the Squeeze indicator measures price compression using Bollinger Bands and Keltner Channels. If the Bollinger Bands are completely enclosed within the Keltner Channels, that indicates a period of very low volatility. This state is known as the squeeze. When the Bollinger Bands expand and move back outside of the Keltner Channel, the squeeze is said to have “fired”: volatility increases and prices are likely to break out of that tight trading range in one direction or the other.)
CMP= 464.7
Targets🎯:
T1= 500
T2= 550
Stop Loss⚠️:
below 445, which is Breakout Candle Low
Attached: Daily Chart as of 31st March, 2023
Bullish Opportunity in Glenmark is clear as Price has Not Only given a CLASSIC CUP & HANDLE BREAKOUT
BUT IT is also accompanied by a Squeeze Buy Signal aka the Squeeze Release !
(Note: Squeeze is a volatility and momentum indicator introduced by John Carter, which capitalizes on the tendency for price to break out strongly after consolidating in a tight trading range. The volatility component of the Squeeze indicator measures price compression using Bollinger Bands and Keltner Channels. If the Bollinger Bands are completely enclosed within the Keltner Channels, that indicates a period of very low volatility. This state is known as the squeeze. When the Bollinger Bands expand and move back outside of the Keltner Channel, the squeeze is said to have “fired”: volatility increases and prices are likely to break out of that tight trading range in one direction or the other.)
CMP= 464.7
Targets🎯:
T1= 500
T2= 550
Stop Loss⚠️:
below 445, which is Breakout Candle Low
Note
First Target Met, Second Target up next
Siddharth Bhansali
✔️Twitter Handle @T_Harth
✔️Twitter Handle @T_Harth
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