XAUUSD has been following the Fibonacci Channel for quite a long time now. It already hit the 3.618 level on the channel. Now, it has tested the major resistance trendline (black one). It might test it again and then fall to the 4.618 level, which is around $1750.
1) Flat breakout with almost 5 years of consolidation.
2) Breakout supported with good volumes.
3) Breakout Retest supported with volume dry-up.
4) Momentum indicators all in support.
1) Company is almost debt free.
2) Positive cash flow.
3) Into Tech Niche - (Quality Testing).
4) Posting good profits.
Good candidate to study from...
HDFC bank look good on weekly basis. if its close above the 1642 on daily basis go long.
as it from double bottom on weekly chart and trading near all time high.
chart seems promising.
this idea not for trading only for investment purpose at least for 6 month.
The script shows a triangle breakout with a long green candle closing strongly above the trendline. Huge volumes are being traded. A good stock for long-term as well as a short-term trade. Expect a good move in the next two months.
Price breaks the important resistance level and failed to hold the momentum and returned to the previous levels below the important support. Now once again price is all set to break the resistance and jump up.
Cmp - 4
Stop - Nil, Add more on relevant dips
T1 - 8
T2 - Open, Review at 8
Expected Holding Period - 3 months or earlier for T1
Technicals - ✅
Fundamentals - ✅
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
Investment Pick !!
Excellent Company. Great Fundamentals.
Rakesh Jhunjhunwala also holds stake in the company. Promoters are continuously buying shares from open Market.
Don't Miss it, Keep accumulating at all dips
1)Breakout from Stage I - Consolidation zone after 19 years with good Volumes.
2)Breakout Retest with Volume dry-up.
3)Reversing from 61.80% Fibonacci Retracement.
1)Posting good Quarterly as well as YoY results.
2)Substantial increase in ROCE.
3)Reduced its Debt and approaching Debt free.
4)Positive Cash Flow.
Excellent Stock to look forward to!!