Those who have not read our first report on IBREALEST, please read report appended below. It is evident from the chart that bullish flag pattern had been formed and breakout has already taken place. If you count volume , then red arrows are showing volume of pole and breakout which is quite high and gives strength to our idea of flag pattern. MACD is showing short...
Bullish wolfe wave pattern is formed in IBREALEST.
As a investment strategy stock can be bought at current level for a target level around 250 in Medium Time frame.
Price action higher high and higher low is also generating positive confirmation for the script.
IBREALEST is moving in a traingle for 6 months now. The wicks are spot on the trentline. The last testing of trendline cudnt push it high enough, and its back on the edge. Awaiting a breakdown or reversal. Its closing towards 200 ema.
Anticipating a pull back to 248 and 242 from the Bat PRZ near the channel high @ 263 / 268 zone.
Although anticipating reversals yield handsome returns yet they are associated with high risk. So I suggest to have your own study before following the idea.
Trade Safe, Be healthy.
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