KEI about to Breakout
Updated
Ascending Triangle Pattern formed in Kei Industries. I am referring 1D candle.
CMP : 722
You can clearly see a Rising Lower trendline which is acting as a support line. Many times stock is taking its support and rejected the downside movement.
Upper trendline is flat acting as resistance line. Many times stock touched that line or tried to go out of the pattern but got declined.
Positive Points:
1) Ascending triangle pattern which is commonly known for bullish sign.
2) MACD is about to crossover. Its above zero line. Also you can see weakness is decreasing. See histogram bars.
3) RSI above 60. and It has taken support near 55-60 which is very good sign for a bullish momentum.
Entry:
After breakout.
Aggressive buyers can take entry after breakout (Volume is important for breakout)
Defensive buyers can wait for a pull back for confirmations
Target :
830
Duration :
short to mid term position
Disclaimer : I am not sebi registered. This is for educational purpose only. Do your own analysis before taking any position. I am not responsible for your profit or loss.
CMP : 722
You can clearly see a Rising Lower trendline which is acting as a support line. Many times stock is taking its support and rejected the downside movement.
Upper trendline is flat acting as resistance line. Many times stock touched that line or tried to go out of the pattern but got declined.
Positive Points:
1) Ascending triangle pattern which is commonly known for bullish sign.
2) MACD is about to crossover. Its above zero line. Also you can see weakness is decreasing. See histogram bars.
3) RSI above 60. and It has taken support near 55-60 which is very good sign for a bullish momentum.
Entry:
After breakout.
Aggressive buyers can take entry after breakout (Volume is important for breakout)
Defensive buyers can wait for a pull back for confirmations
Target :
830
Duration :
short to mid term position
Disclaimer : I am not sebi registered. This is for educational purpose only. Do your own analysis before taking any position. I am not responsible for your profit or loss.
Trade active
Check breakout volume.Trade closed: target reached
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