Note: This is for educational purpose only.
There is a range bullish breakout with ultra high volume. RSI is above 70 which indicates bullish momentum but also indicates overbought. There is a possibility of consolidation/ side ways movement before next up-move.
Marked on chart. If 3rd wave has completed then we may see correction till 97-95 or we might have already ended it. Move past 104 will confirm that we might have ended correction and now we are up for 5th wave. SL is 93 . Target if 140-150.
1. wait for a breakout
2. enter with a breakout
3. enter on the retest
4. avoid entering on the breakout IF there is a divergence!
Trade safe! Be a responsible and an independent trader!
Canbank Break Fibonacci level of 23.6 so you can add in your Buy List.
Entry Price: 118
Stop loss:108
Target:130
Please Enter and Exit as per Strick Target and Stoploss.
Canbank took resistance at multiple resistance zones and pushed down again. Now the stock is just at a minor resistance moving above it will be a positive sign for the stock in the short term and prices may push to 235 levels. However any failure to hold above it will result into continuation correction.
