Petronet LNG - 6 years of range breakout
After the bull run, stock retrenched to 61.80% fib level and consolidated for 6 years.
The range breakout visible in chart, aptly supported by volume and technical indicator.
Stop Loss below 20EMA; Target 1 Rs 415
Weekly Chart
After four year of consolidation, the stock given a descending triangle breakout with breakaway gap.
Technical Chart
Golden crossover of ema 50 & 200 with breakout volume, certainly confirm the bullish strength in stock.
Thanks
-aj
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
The range breakout visible in chart, aptly supported by volume and technical indicator.
Stop Loss below 20EMA; Target 1 Rs 415
Weekly Chart
After four year of consolidation, the stock given a descending triangle breakout with breakaway gap.
Technical Chart
Golden crossover of ema 50 & 200 with breakout volume, certainly confirm the bullish strength in stock.
Thanks
-aj
Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.
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.