FORTIS LONG Buy Fortis above 160
For 166-172-175 targets
175 is an important resistance thus it may turn once it reaches that point.
Happy Trading
FORTIS
FORTIS BreakoutFORTIS_ has been testing the brown level for a coupe of months now. making arcs.
its back in th testing zone, waiting for a reversal or a breakout.
Good bounce from strong support - FortisStrong support at 142 and the price got good bounce from the support, it happens many times in EOD. On here fortis looking good for short term or swing trade. Wait until to break the trend line. The levels of 155 to 165 is range formation and at present trend is not giving strength to pull up.
Trade:
Buy above - 165
Target 1 - 175
Target 2 - 185
Stoploss - 155
FORTIS BREAKOUT LONG TERM RESISTANCE FORTIS price chart given a long term resistance break out near 200, one can add on dips for target 300 by keeping stop loss below 205.
Fortis Healthcare: A zoomed-in ViewI just aired my thoughts based on the daily chart, a little while ago. I asked the question, what next, in that chart. The zoomed-in view in the lower time frame is just an exercise to look at a few scenarios.
IF the price takes support at one of the green lines AND manages to clear the magenta resistance lines, it would be a strong clue that an upside range breakout might happen.
If you want to play it safe, then by all means, wait for a breakout and close past 200 and then decide what to do. For those wanting to do some live chart watching / learning, pay attention to what price does at the lines displayed in this 15-min chart
Fortis Healthcare: Price Stalls At Resistance, What Next?Price has been stuck in the broad range of 148-200, captured by the green zone. The recent rally off the green support line represents a higher low within the context of the trading range. If price manages to bounce off the intra-day support at 172-178 range, then I would get interested in the stock.
The real clincher would however be a strong breakout & close past today's high of 188. That would strengthen the case for an eventual breakout above the trading range high of 200. A successful breakout & retest of the upper end of the range would suggest that the multi-month accumulation is complete.
If the stock breaks below 148 (lower end of the range) then it would push the stock into a bearish phase. But, that is not my preferred outcome.
