RAMCOCEM Head & Shoulders

Jan 22, 2022

RAMCOCEM has formed extended head and shoulders on 1D chart along the 920 baseline. Breakdown from here can be significant hence caution suggested for longs. No fresh shorts yet as the trendline is not broken. If the baseline is broken, the stock can see a measured move fall toward 750.

Jan 29, 2022

Note

Breakdown confirmed from the H&S support line. It's best to book some profits here and trail stops for the final target of 750.

Mar 1, 2022

Trade closed: target reached

Price touched 752 on 28 Feb. Target met.