Channel Breakout in Mold Tek Packaging?

Stock was trading in a sideways channel, now it has given breakout with good volume .

In the short term, price is moving in an uptrend with support which is marked on the chart. Also, there was a triangle pattern breakout which has already reached its target.

If daily candle of 10th Aug manages to close above breakout candle high, we can expect a good up move in coming days.

If price is coming for retest 840-870 levels should act as immediate support.

Stop loss for this trade can be placed below 775.

All possible targets are mentioned on the chart.

This is just a view, not a recommendation to trade. Do your own analyses before taking any trade.


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