Go Long above 397.6 for Targets of 413.85 and 430.1, with SL 381.35
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish candlestick pattern, Bullish Hammer (marked with an orange circle) is formed at 0.382 Fibonacci level.
3. Also there is a Demand Zone (marked with a green rectangle ) around 0.382 Fibonacci level from which the stock is taking support and moving up.
4. In addition to this the stock is forming a bullish chart pattern ( Double Bottom / W Pattern) around 0.382 Fibonacci level.
5. Also there is a high chance that stock can give a trendline breakout.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.382 Fibonacci level.
2. A bullish candlestick pattern, Bullish Hammer (marked with an orange circle) is formed at 0.382 Fibonacci level.
3. Also there is a Demand Zone (marked with a green rectangle ) around 0.382 Fibonacci level from which the stock is taking support and moving up.
4. In addition to this the stock is forming a bullish chart pattern ( Double Bottom / W Pattern) around 0.382 Fibonacci level.
5. Also there is a high chance that stock can give a trendline breakout.
Order cancelled:
We will look for a different setup.