Keep a close track of NATIONALUM because it's close to breaking out. For the past year, the stock has been moving within a supply demand range, forming a rectangle pattern.
By Looking at chart, you can see that it has repeatedly reached resistance and then returned to its support level.
Today, it has once again reached that resistance level, and it seems likely that it might break the pattern. If it does, we would need to see a relatively large candle followed by Good increased in volume for confirmation.
Trade can only initiated when it sustain above the line at 89,
We can partially book our profits at 93.35 as first target. We can even go longer after reaching 1st target.
Stop Loss at 85.
Do prepare your own setup, this was only for Educational purpose.
By Looking at chart, you can see that it has repeatedly reached resistance and then returned to its support level.
Today, it has once again reached that resistance level, and it seems likely that it might break the pattern. If it does, we would need to see a relatively large candle followed by Good increased in volume for confirmation.
Trade can only initiated when it sustain above the line at 89,
We can partially book our profits at 93.35 as first target. We can even go longer after reaching 1st target.
Stop Loss at 85.
Do prepare your own setup, this was only for Educational purpose.
Trade active:
Our trade got activated as it has broke the resistance level and sustained above the line. But the volume seems comparatively low, We might see little pullback.
But overall, the pattern that has emerged shows a remarkable strength, with a powerful breakout signal.
Do Follow the Stop Loss.
But overall, the pattern that has emerged shows a remarkable strength, with a powerful breakout signal.
Do Follow the Stop Loss.
Trade active:
This is what we were talking about, "If the volume favors this stock it will become rocket". Today, this stock is Shows its strength and validating why it is referred to as a powerful breakout stock.
Now It is already up by 4 % from our entry point and near to reach the target.
Once it achieves the target, I will update on what else can be done.
Now It is already up by 4 % from our entry point and near to reach the target.
Once it achieves the target, I will update on what else can be done.