SWING IDEA - PRISM JOHNSON
Updated
Prism Johnson, a key player in the building materials sector, is showing promising technical indicators that suggest a potential swing trade opportunity.
Reasons are listed below:
Target - 199 // 220 // 250
Stoploss - weekly close below 142
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Reasons are listed below:
- Break of Cup and Handle Pattern: The stock has broken out of a cup and handle pattern, which is a bullish continuation signal, indicating the potential for further upside movement.
- Support at Crucial Zone of 150-160: The stock is taking strong support around the 150-160 zone, a critical area that has previously acted as a strong support level.
- Bullish Engulfing on Weekly Timeframe: A bullish engulfing candle on the weekly chart adds to the bullish sentiment, signaling a strong reversal from the support zone.
- Double Bottom Pattern on Weekly: The formation of a double bottom pattern on the weekly timeframe further strengthens the bullish case, indicating a potential reversal from a major support area.
- 50 EMA Support on Weekly Timeframe: The stock is currently supported by the 50 EMA on the weekly chart, indicating that the long-term trend is intact.
Target - 199 // 220 // 250
Stoploss - weekly close below 142
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Comment
hold!Comment
made a high of 13%++Trade closed: target reached
2nd target achieved : 47%++Disclaimer
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