BREAKOUT - PULLBACK - CONTINUATION - CAN BE GOOD REVERSAL TRADE!
The stock gave an ascending triangle breakout and after the initial impulsive move, has corrected.
It retested the initial breakout level of 86.5. The corrective wave retraced 61.8% of the impulsive wave which is a great retracement.
The RSI has also cooled off.
The stock looks good buy above 91.2 level, carry on day closing basis for positional targets 92.25, 94 and 97.
Since this is a reversal trade, intraday is not recommended.
Put SL day closing below 86.5 and trail.
Learn & Earn,
Dr. Tanya Kumar
It retested the initial breakout level of 86.5. The corrective wave retraced 61.8% of the impulsive wave which is a great retracement.
The RSI has also cooled off.
The stock looks good buy above 91.2 level, carry on day closing basis for positional targets 92.25, 94 and 97.
Since this is a reversal trade, intraday is not recommended.
Put SL day closing below 86.5 and trail.
Learn & Earn,
Dr. Tanya Kumar
For high probable swing picks, join t.me/EquityResearch_PAC_bot
TG channel t.me/priceactionchart
My TG ID @tanya151181
Course details:
tinyurl.com/PAC2COURSE
All Ideas posted by me are for Educational Purpose.
TG channel t.me/priceactionchart
My TG ID @tanya151181
Course details:
tinyurl.com/PAC2COURSE
All Ideas posted by me are for Educational Purpose.
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.