'Strongly Bullish' on SAIL for long term; Weekly Chart analysed
The stock hit a fresh 52-week high of 151.30 on 10th May 2021, but failed to hold on to the momentum, falling about 58%.
SAIL took support at the lower trendline of the wedge pattern on 21st June 2022 and bounced back from a 52W low of 63.60 to a high of 93.90 on 19th Jan 2023, rising about 47%.
In terms of price action, the stock is trading well above all the short-term and long-term moving averages.
RSI is above 50 and MACD gave bullish crossover above its signal line on 2nd March 2023.
Based on bullish moving averages and technical indicators, it is expected that the stock's price will continue to rise towards the assigned targets, with a recommended stop loss of 83 on a closing basis.
SAIL took support at the lower trendline of the wedge pattern on 21st June 2022 and bounced back from a 52W low of 63.60 to a high of 93.90 on 19th Jan 2023, rising about 47%.
In terms of price action, the stock is trading well above all the short-term and long-term moving averages.
RSI is above 50 and MACD gave bullish crossover above its signal line on 2nd March 2023.
Based on bullish moving averages and technical indicators, it is expected that the stock's price will continue to rise towards the assigned targets, with a recommended stop loss of 83 on a closing basis.
Comment:
Target 1 achieved on 1st Sep'23.
Comment:
Target 2 achieved today !!
Comment:
Target 3 approaching...