MFSL - Inverted Head & Shoulder breakout- Trend Reversal pattern
MFSL has formed an Inverted Head and Shoulder pattern and given a good breakout at the neck level 725-730.
This stock has been in down trend since Jul'2021.
This is a trend reversal pattern. Looks good for long term (6 months to 1or 2 years).
SL: Daily close below 670.
Immediate target can be 825 - 830 then 870 (previous swing high).
Note: This is highly volatile and illiquid stock.
200 EMA levels of 765-770 can be a small hurdle zone.
This stock has been in down trend since Jul'2021.
This is a trend reversal pattern. Looks good for long term (6 months to 1or 2 years).
SL: Daily close below 670.
Immediate target can be 825 - 830 then 870 (previous swing high).
Note: This is highly volatile and illiquid stock.
200 EMA levels of 765-770 can be a small hurdle zone.
Trade active
Doing good in weak market, stock looks strong.Trade closed: target reached
827 target reached :)Can hold for long term with trail SL.
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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.