West Coast Paper gave its highest weekly close since January 2019.
The stock has decisively crossed and closed above the long term weekly resistance level of 265-266.
We also have a potential Weekly Golden Cross coming up next week (golden coloured MA crossing the green coloured MA)
At the same time, overhead resistance at 295-298 (blue TL) can possibly lead to slightly extended consolidation/sideways movement.
One can either buy West Coast Paper at cmp or wait till the stock gives a daily close above 295. In any case, West Coast paper is a great short to medium term buy with minimal risk and significant upside.
Target: 348-370-394 and beyond
SL : 265 WCB
TF: 1-3 months
The stock has decisively crossed and closed above the long term weekly resistance level of 265-266.
We also have a potential Weekly Golden Cross coming up next week (golden coloured MA crossing the green coloured MA)
At the same time, overhead resistance at 295-298 (blue TL) can possibly lead to slightly extended consolidation/sideways movement.
One can either buy West Coast Paper at cmp or wait till the stock gives a daily close above 295. In any case, West Coast paper is a great short to medium term buy with minimal risk and significant upside.
Target: 348-370-394 and beyond
SL : 265 WCB
TF: 1-3 months