Graphite made a strong bullish engulfing candle on good volume after consolidating for last few days around the lower median line of the pitchfork.
1. price is above long term moving average of 200SMA ✔
2. Price is not above short term moving average of 50 SMA ❌
3. Uptick in RSI ✔
4. bullish MACD signal✔
5. above average volume✔
Target is the central median...
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As can be seen from chart, the stock has made an Ascending triangle breakout with exceptional candle and above average volume spurt.
Previously, it had made the sme type of pattern which can be seen as shown on to chart.
Intraday Long above 696 can give 707/718
Positionl long above 696 can give 745/780
When I told everyone to buy at 593, only a few listened and now they are having a laugh.
That's why I say only technical analysis, no hawabaazi.
Adding the link for my previous idea. Go and check it.
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Heg 2018 July high was made ever since this level isn't broke.But current MMT policy coupled with commodity uprise has left heg in an optimistic position where it can break this historic trend line and finally reach at its all time high. As you know metal sectors are at all time high can lead this graphite stock reach are predominant levels
This is follow-up on Graphite India. Can check link to related ideas.
Target 2 achieved. More than 96%. Target 3 is ON.
Chart is self explanatory. Entry, Targets and Trailing Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
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Might blast to more than 3300++
Super Bullish on this stock.
From Rachit Sethia with 💚