Welspun - Long Dravas Box Breakout
Welcorp's performance illustrates the effectiveness of the Dravas Box Strategy in identifying potential breakout opportunities. In July 2023, Welcorp's stock gave a Dravas Box Breakout at a price of 295, leading to a significant rally. The stock surged by 70% over the next few months, reaching a high of 500 by November 2023. This substantial return validated the breakout signal, as the stock's price moved well beyond the range defined by the Dravas Box setup, rewarding traders who captured the trend.
Fast forward to August 2024, after a nine-month consolidation period, Welcorp is again signaling a Dravas Box Breakout. This indicates that the stock, after a period of stability, is poised for another potentially significant price move. With a target price now projected at 895, traders and investors are likely to see this as a compelling opportunity, anticipating another strong upward trend following the breakout.
Fast forward to August 2024, after a nine-month consolidation period, Welcorp is again signaling a Dravas Box Breakout. This indicates that the stock, after a period of stability, is poised for another potentially significant price move. With a target price now projected at 895, traders and investors are likely to see this as a compelling opportunity, anticipating another strong upward trend following the breakout.
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