Transrail Lighting Ltd is near support level and making a butterfly pattern.
Here, Fibonacci levels are applied. So, If it breaks the ratio of 0.5 & 0.618, we will see 1.0
Based on ratio you can see target level in the chart.
As per fundamentals theory, 0.5 and 0.618 are strong resistance, once sustain above this it will touch to 1.0 and 1.618. So accumulate on every dip.
Also, this stock has took support from the all time high level. It had given the breakout earlier and give some upside movement, now taking support from that ATH level and ready to go up.
Here, Fibonacci levels are applied. So, If it breaks the ratio of 0.5 & 0.618, we will see 1.0
Based on ratio you can see target level in the chart.
As per fundamentals theory, 0.5 and 0.618 are strong resistance, once sustain above this it will touch to 1.0 and 1.618. So accumulate on every dip.
Also, this stock has took support from the all time high level. It had given the breakout earlier and give some upside movement, now taking support from that ATH level and ready to go up.
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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.