Multiple Confirmations on the Higher Time Frame
Updated
Bullish trend on the charts
Following factors are contributing towards bullish momentum of the price
firstly, the stock has broken out on the higher time frame and the rise in volumes is supporting price breakout.
secondly if we see the ICHIMOKU indicator then the cross over on the weekly time frame has taken place above the cloud - as per the teachings it is very bullish setup
thirdly, the price has been moving in the upward rising parallel channel and shows the commitment of the bulls to take the price Higher - appreciation in the price is indicated on the charts
Target estimation - is being done by me after calculation of the previous drops and the price projection which has taken place. since no zone of resistance is presented by the price action before this price breakout taking place
conclusion - my price estimation of the price is for a target of 580 / 590 levels in the medium term and i will accumulate the stock on re test of the zone of resistance
happy investing fellow traders - if you liked this then boost my idea and also you can ask me your questions in the comments for which i am always available to answer those.
thanks and love you all
Following factors are contributing towards bullish momentum of the price
firstly, the stock has broken out on the higher time frame and the rise in volumes is supporting price breakout.
secondly if we see the ICHIMOKU indicator then the cross over on the weekly time frame has taken place above the cloud - as per the teachings it is very bullish setup
thirdly, the price has been moving in the upward rising parallel channel and shows the commitment of the bulls to take the price Higher - appreciation in the price is indicated on the charts
Target estimation - is being done by me after calculation of the previous drops and the price projection which has taken place. since no zone of resistance is presented by the price action before this price breakout taking place
conclusion - my price estimation of the price is for a target of 580 / 590 levels in the medium term and i will accumulate the stock on re test of the zone of resistance
happy investing fellow traders - if you liked this then boost my idea and also you can ask me your questions in the comments for which i am always available to answer those.
thanks and love you all
Trade active
the price and target is moving as per charts and we have the eyes on 580 / 590 levels
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