Long PTC good setup.Long PTC stock. Good setup . Stock is in a long uptrend. A very good spot to go long near the 50 EMA. This is for your educational purpose only.
Ptcindiaideas
PTC : Good buying can be seen PTC : Good buying can be seen
- Filtered from Strategy#2
- near demand zone (till 97)
- near suport line
- anytime we may see reversal here
- 90 can be good support
- R:R favorable
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
PTC India - Trend reversalPTC India Financia had taken a reversal from its triangle bottom, so give an entry with appropriate Stop loss after the breakout from the zone
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
PTC India: Long break outPrice action pattern: Break-out and sustained from a downward trending line resistance line (From 43 to 35) at 35 with almost flat support line at 32.5. Further after break-out, tested the support turned earlier resistance line and stayed above with considerable volume.
Fundamentals: Results of Q4 2020 and FY 2019-20 is expected on 08 June 2020 (Monday). With the overall trend of the market expected to be upwards and the results at the back of some good deals for PTC, price is expected to be favourable towards bulls.
Indicators:
1. MACD: Upward crossover over signal line observed at the previous low of 32.5 (near support)
2. RSI well below overbought zone showing short term strength
3. DMI showing a ADX strength of close to 50 whilst ADX+ sustains above ADX-
4. MA 20 cutting MA 50 from below
Possible trade:
Buy: 37
Target 1: 39
Target 2: 42.5
Stop loss: 34.5 (Considering an ATR of 0.76)
The PTC possibilities with butterfly..NSE:PTC With reference to the 26weeks kumo cloud resistance bands, the possibilities have been explored..
But although the pattern is a superprojection, a sharp reversal is seen from the Kumo clouds downwards..
Disclaimer.. not an investment/trading advice....
