#sunpharmaceutical cup and handle weakly breakout positionl long
The stock on weekly chart had earlier broken out of a cup and handle pattern and consolidated post to that to further move up
and now has a momentum reverse divergence which is bullish to take it further up if it works out to happen. However caution need to be maintained
with tight stop loss since the ads trend strength has taken a bent on the top which may be indicating a reduced trending move.momentum
is bullish on medium and long term but short term need catch up move and entry need be made only if u see daily momentum rsi > 60.
Positional entries need consider breakout neckline as stop loss while swing trades should consider previous support levels for exit.
and now has a momentum reverse divergence which is bullish to take it further up if it works out to happen. However caution need to be maintained
with tight stop loss since the ads trend strength has taken a bent on the top which may be indicating a reduced trending move.momentum
is bullish on medium and long term but short term need catch up move and entry need be made only if u see daily momentum rsi > 60.
Positional entries need consider breakout neckline as stop loss while swing trades should consider previous support levels for exit.
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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.
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.