The stock was moving in an ascending channel for a few weeks now, making higher highs and lower lows.
Traders can buy the stock at cmp as it has broken above the upper channel line of an ascending channel. The move was well supported by significant rise in volumes, which confirms the authenticity of the breakout.
Considering the weekly charts, the next...
stock after one side upmove
consolidating in range 185 to 210
with current formation
i see 184 area as sl for 230 /250 + targets in short term
Imp Is its above moving averages like 100/200 /20 etc
Philip carbon is giving two trade possibilities as it is the mid zone of resistance and support.
A pullback around 150 is a good zone for pullback entry. And a break above 180 is good for long as well.
Using the fib extension analysis - it makes sense to wait for the pullback as the breakout zone (180) is close to 1.6 fib ext levels (which can be used as...
