Fresh breakout of resistance line - Ascending Trending line Target & SL Explained in the chart
JPASSOCIAT has been doing terrific lately. From the looks of it, it is just getting started! This stock has been in a sustained downtrend followed by a long consolidation. It is finally looking to break out on the upside by a big margin. The short term target is 24 at least. Medium term 40. Long 50 at least. We may want to look for a slight correction only because...
If breakout happens target will be 175/180/190+ whereas SL will be 160 .. wait for clear trend direction... :D Note: Do your own study before making any position... Please Like, Follow and Comment your views below...
You could call it and Inverted H&S breakout or even a Rounding Bottom/Cup and Handle Breakout. Target 1 is given as immediate resistance Target 2 is given as height of the bottom to breakout / height of the head. Trail SL once T1 is achieved. R/R ratio looks great. Let's make some money! Happy Trading.
it has been observed in weekly chart, stock is near to BO medium term trend line. find a good opportunity for short term investment.
After a strong weekly breakout from the strong support levels of 600-610, it confirmed the continuation of a downtrend. It has retraced back to the previous support and now the support levels are acting as new resistance levels. I believe now the price action shall go down to the next support levels at around 475 levels. It is an ideal time to short with stop loss...