Pressman Advertising / Good Volume Activity Pressman Advertising is forming inverted head and shoulder on a weekly time frame.
The stock price is on the verge of making a bullish breakout from the technical pattern of an inverted head and shoulder at around 31-32 levels. There has been a substantial increase in volume near the right shoulder of the technical pattern which indicates that the price breakout along with such increased volumes can push the price higher towards 35 levels. A leading technical indicator RSI has been indicating a positive divergence on the weekly chart where the price has not yet made a bullish breakout however RSI has moved up higher from its previous high. Thus, buying opportunities can be considered near 31 levels with an SL at 26.95 and a target of 55.60.
SL 26.95
TP +35 +43.20 +55.60
Don't take the full position at once
Maybe buy 25% on the initial signal
Add another 50% on confirmation of the signal
Add another 25% on the follow-through of price action
Build your position 1 step at a time,
Add to winners and losers are cut short
Warning: Pressman Advertising has only 72 Cr as Market Cap the stock has very low liquidity. Would suggest managing your position size.
