Today we seen GMDCLTD trying to give breakout inverse head and shoulder pattern with higher buying volume. Expected it will successfully breakout this pattern and reach its projected target 65+ in upcoming trading session. We seen buying volume from 57 level so we can place our nearest stop loss at 57. By risk management this trade have a potential to give nearly 1:2 risk-rewards.
Investment Notes(Technicals):
1) Inverse Head and shoulder pattern will give 65+ target
2) After COVID-19 fall in March 2020 this stock continuously recovering from bottom towards the its pre-covid level which is 72+.
3) In long term time frame this stock complete its 5th wave in the direction of downtrend and expected next 3 waves towards the correction which is at least expected 61.8% of Fibonacci level from last swing (120+).
Disclaimer:
The investments and services offered by us may not be suitable for all investors. If you have any doubts as to the merits of an investment, you should seek advice from an independent financial advisor.
Investment Notes(Technicals):
1) Inverse Head and shoulder pattern will give 65+ target
2) After COVID-19 fall in March 2020 this stock continuously recovering from bottom towards the its pre-covid level which is 72+.
3) In long term time frame this stock complete its 5th wave in the direction of downtrend and expected next 3 waves towards the correction which is at least expected 61.8% of Fibonacci level from last swing (120+).
Disclaimer:
The investments and services offered by us may not be suitable for all investors. If you have any doubts as to the merits of an investment, you should seek advice from an independent financial advisor.
Trade closed: stop reached