This is a 60-minute chart of Titan Company, which has shown a strong upward movement over the past few days. Despite many trades being unable to enter at low levels, this chart presents a promising setup on the hourly timeframe.
We can observe that the stock has taken support at the Fibonacci 38% retracement level, which indicates a potential level of support and buying opportunity for traders. Additionally, there is a hidden bullish divergence, which suggests that the stock may continue to rise in the near future.
Considering these technical indicators, traders could enter at this breakout and hold their position until the stock breaks the bigger resistance level. This would be a prudent strategy that aligns with the current market conditions and the bullish momentum of Titan Company.
It's important to note that traders should always conduct proper research and analysis before entering any trade, and carefully manage their risk. By following a disciplined approach and leveraging technical analysis, traders can take advantage of opportunities in the stock market.
We can observe that the stock has taken support at the Fibonacci 38% retracement level, which indicates a potential level of support and buying opportunity for traders. Additionally, there is a hidden bullish divergence, which suggests that the stock may continue to rise in the near future.
Considering these technical indicators, traders could enter at this breakout and hold their position until the stock breaks the bigger resistance level. This would be a prudent strategy that aligns with the current market conditions and the bullish momentum of Titan Company.
It's important to note that traders should always conduct proper research and analysis before entering any trade, and carefully manage their risk. By following a disciplined approach and leveraging technical analysis, traders can take advantage of opportunities in the stock market.
Trade active:
trade initiated and the price had retested the breakout level (Good opportunity for next session)