NavinFluorine - Go Long - Weekly
#NavinFluorine #weekly
=> On Weekly chart it follows rising channel pattern forming Higher highs and Higher Lows.
=> Clearly bounced back from the support level(Positive Divergence)
=> Increase in volume confirms bulls are in control
=> Historically, it takes support from 20 sma and bounced back. Now took support at 20 sma
=> Immediate resistance placed at 3973, it's good to go long above the resistance.
=>Can go long till upper channel trendline, later when breaks can re-enter.
=> SL is previous week low, in this case RR is bit high.
=> This is only for educational purpose, Trading involves Substantial risk of loss, pls consult your financial advisor before investing
=> On Weekly chart it follows rising channel pattern forming Higher highs and Higher Lows.
=> Clearly bounced back from the support level(Positive Divergence)
=> Increase in volume confirms bulls are in control
=> Historically, it takes support from 20 sma and bounced back. Now took support at 20 sma
=> Immediate resistance placed at 3973, it's good to go long above the resistance.
=>Can go long till upper channel trendline, later when breaks can re-enter.
=> SL is previous week low, in this case RR is bit high.
=> This is only for educational purpose, Trading involves Substantial risk of loss, pls consult your financial advisor before investing
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