CHF/JPY, after a steep fall, consolidated in a tight range.
After consolidation, it made a bullish breakout which hints a trend reversal.
Hence, we expect the pair to move to the resistance at 111.137.
The stock is trading at life-time highs and the recent price action is bullish & interesting. Notice the nice breakout via a gap-up and then a consolidation. There is another breakout today with relatively higher volume. Am long in this stock with a 10% stop loss from entry. Looks good and am expecting upside momentum to pick up. Let's see how this pans out.
This stock comes across as a wonderful accumulation candidate from a Wyckoff perspective. The volume signature is very accomodative and the PSU Banking sector looks good as a whole. I am holding long positions and will abandon the bullish view if the price falls below 230. Expect more updates with Point & Figure targets soon !!
The stock has slipped from an overbought condition to its support zone at prior gap area. It has been consolidation in a tight range recently. My expectation is a retest of the recent highs if the range breakout happens. Am looking to buy this one today if we manage close near the day's high. Interesting stock !!
The recent price action has all characteristics of a Wyckoff Accumulation. If the assessment is correct, the price should see a good lift up soon. The rally should be on the back of increasing spread and increasing volume. If this happens. I will be happy to buy the stock. Let's see how it unfolds.