ANOTHER RALLY IN ADSL?"ADSL" is now getting ready for another rally in making a new ATH. There is a good short-to-mid term swing opportunity in this stock, but before this, we need to plan our entry. Two levels of entry is possible here:
a. The stock is undergoing a retracement in a lower timeframe (hourly), which should retest the previous resistance level of 254. A good entry should be at the time of retest which gives us a good risk-to-reward ratio.
b. Another entry, which is in fact a more generic and safe, is when price breaks the recent swing high of 278.
Targets are calculated using ABCD Pattern of Harmonics: In case "a", the targets are almost 27% and 35% respectively from the entry point. In case "b", the targets are almost 17% and 24% respectively.
So, keep this in your watchlist!
