How to Trade CANFINHOMEHow to Trade CANFINHOME
📊 Technical Overview:
Current Price Action: CANFINHOME opened at 695 and closed at 718.1, reflecting a positive move from the previous close of 703.35. The stock has formed a Bullish Engulfing pattern, signaling potential for upward movement.
Key Indicators: The stock is above its 50-day EMA (683.65) and 100-day EMA (697.54), indicating a bullish outlook in the short to medium term. The 200-day EMA (729.91) remains an important resistance.
Volume Analysis: There was a significant increase in volume (208281) compared to the previous day’s volume (246890), indicating potential strength.
🔍 What to Watch:
Resistance Levels: Watch for resistance at R1 (728) and R2 (738). A breakout above these levels could target R3 (754).
Support Levels: S1 (702) and S2 (685) are important support levels to monitor. A break below S1 could suggest a reversal or consolidation.
Bullish Patterns: The Bullish Engulfing pattern and strong bullish candle support an upward move.
🧠 STWP Insights:
Momentum to Watch: CANFINHOME is showing signs of bullish momentum, and RSI breakout could indicate further upward potential. A breakout above R1 (728) would open doors to higher levels.
Swing Trade Potential: Watch the stock for possible swing trade opportunities if it holds above S1 (702), targeting R2 (738).
📌 Disclaimer:
This post is for educational and informational purposes only. It does not constitute investment advice or a recommendation. Please consult your financial advisor before making any investment decisions. STWP and this post are fully compliant with SEBI regulations and promote responsible market learning.
