Swing trade Setup in MCX! for mid term with 15% gains.
Volumes picking up.
Massive flag breakout on weekly time frame.
Successfully Rested the breakout levels.
Buying level - 1575-1605
Target - 1575-1605
Stop Loss - 1574
Targets are based on charts.
Disclaimer: Chart, data and levels for study purpose only. I am not a...
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--Buy = 1607
--Target = 1830
--Stop-loss = 1550
--Profit = ( 15% )
--Holding = 4 Days
👇👇👇👇👇👇 CLICK the chart for the proof 👇👇👇👇👇👇👇
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
Watch out for key levels marked in the chart. There is a trendline breakout along with an important horizontal resistance zone. A weekly closing above the zone would launch the price up!
Intraday - Above TL
Swing/Positional - Above horizontal resistance
Fundamentally very strong Multi commodity exchange printed a flag and given a very big breakout with volume that is reliable.
MCX is almost debt free.
MCX has delivered good profit growth of 20.31% CAGR over last 5 years
MCX has been maintaining a healthy dividend payout of 65.72%
Flag breakout on weekly time frame
Rsi breakout on daily and weekly charts
As you can see in the chart - stock has given a breakout with increased volumes.
23.6% fib level from the previous swing is also near the retest level.
At the retest look for massive rejections of lower levels or double bottoms or inverse head and shoulders.
This is one of my favourite stock.
Finally it have gave breakout from a long consolidation phase in a falling wedge price action pattern.
This pattern have took 1 yr and gave breakout.
Momentum looks very strong as it also has a seen hugh volumes that haven't came for almost a yr now(last time on 14th sep).
Let's see how much time it takes to test it's all time...
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👑 Terms used if you don't know :
✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a...
MCX looks like a good buy for short term
Give H&S Neckline Breakout & given a range breakout after few months consolidation
( Educational Purpose )
All investments involve risk.
Please Do your analysis before initiating Any trade
Good luck !