Chambalfertilisers
Channel Breakout - Lower RetestThis is not a short sell suggestion, but only a confirmation that this level isn't apt for fresh entry.
I am curious to see how it works out. We might even be on the correction wave (c) in this leg which can make a lower low than before somewhere around the support zone marked.
Short Time Frame - Testing BreakoutPrice seems to have given a breakout with good volume.
Lets see how this works on short time frame.
I am a bit weary since the price may give a small pullback and retest resistance levels but it is equally likely that it may just go a little further from here before cooling.
Only for research purposes.
Chambal Fertilizer BO!It has given a breakout!
Good for targets of 350 in the short term and 390 for the long term.
Company has strong fundamentals and it can prove to be a good investment stock.
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
CHAMBAL FERILISERS BREAKOUTCHAMBLFERT broke resistance of ~359
after consolidating for ~135 days.
RS is above 0.
Whole Chemical sector is very bullish maybe this stock also will join that rally.
Support is in range of 285-290.
Stocks volume showing for when it was consolidating selling pressure was very low compare to buying.
CHAMBLFERT BO Possible SoonThe chart forms a cup and handle pattern supported by high volumes in the counter.
The other technicals are supporting the probability:
RSI - 68 (Since it is not in the oversold territory it makes room for higher profits)
MACD is above the centre and signal line which is another bullish signal
ADX - 42 (It indicates the strong trend of the movement, which is bullish in this case.
P.S: This is my first idea, comments are welcome.