Vinay227

Touchwood Entertainment Breakout

Long
NSE:TOUCHWOOD   TOUCHWOOD ENTERTAI
As we can see in the chart, stock goes into the consolidation or creates flag and whenever it comes near 44 SMA , there is a breakout.

After the fall of 47% we can see that stock is creating new swing high. We can consider each breakout as small flag and pole or look at the bigger picture and see that stock is moving in between 2 parallel lines which are expanding, which means breakout can be even bigger this time.

So one can go for swing trade with the SL below 44 SMA and ASA stock touches or comes near upper line you can book profit.
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