Breakout in Allcargo Terminals Ltd.ATL Ltd. has given a breakout in falling wedge channel with average volumes. It seems difficult to sustain this break as it is forwarding towards immediate resistance. Waiting for other confirmations.
Allcargologistics
ALLCARGO - A long term viewThe stock has closed at a price of 391.65 which is just a fraction short of moving above all important EMA and make it technically bullish.
Fundamentals of the company have significantly improved which is a good sign.
Since the EMA crossover in the month of August we have seen the price hit a fresh high of 452 levels.
During this rise we have witnessed a pullback at the levels of 328.
Current levels are showing signs of another pull back and if we have prices moving or closing above 394 we could see the levels of 452 being hit once again.
There could be some resistance at around 413 levels.
The projected growth for logistics sector is around 15% which is currently at 10.5%(approx.)
So keeping a stop loss at around 375 one can go long in this counter above 394 for a target of 452 on a short term basis.
From a long term point of view 600 levels look a decent shot.
All Cargo LogisticsLooks good time to enter now !!!
please have a look to the chart
buy position can be initiated now with small stoploss 320 and high reward ideally 1:2
Allcargo Logistics (Allcargo) : Daily setup for positional tradeThe chart has formed a double bottom formation with pivot point at 398.
383, 398 and 412 are also important support and resistance zones. Keep a close watch on the price action in these ranges.
The overall trend is positive though the stock my consolidate in the range between 369 and 383 in the short term. Beyond 383, 398 will act as immediate resistance and pivot point of the double bottom formation. The range between 398 and 412 can be used as buying range as well. Though aggressive traders can even take positions with 383 as breakout.
Short to medium term target of 472 and 500.
Very important is to set your stop loss and follow it very strictly.
