IPCALAB: Multi-Year Breakout: Monthly Timeframe: Oct'24
IPCALAB: Multi-Year Breakout: Monthly Timeframe: Oct'24
- Stock comfortably broke the high (1383.1) it made in Sep'21 and closed above in Sep'24. A multi-year breakout on a monthly time frame
- RSI in Sep'24 (63.27) is above 60.
- Breakout in Sep did not happen with above average trade volume (9 SMA) [NEGATIVE]
- Drawdown = 713.3/-
- Target = Breakout level + Drawdown during consolidation phase = 1383.1 + 713.3 ~ 2090
- ATR = 136.47
- SuperTrend = 1020.92
- Stop Loss = 1 ATR below previous month's low = 1375 - 136.47 ~ 1235
Trade active
Bought at 1490.2 on 04-OctNote
Switching to weekly timeframe, to analyze the breakout
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.