AS PER THE PREVIOUS TRADE CALL ON YESBANK HAS BROKEN
OUT OF THE DOUBLE BOTTOM FORMATION
AND HAS MANAGED TO GIVE A PERFECT PULLBACK
SIGNS ARE GOOD TO GO LONG SO WE ARE ENTERING INTO
A POSITIONAL TRADE FOR THE COMING TW0 WEEKS
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I could have just marked an arrow on the chart and said ...
The stock broke out of a long term resistance near 610 on higher timeframe charts. Overall market correction may push the stock down to retest 610 zone again, which may now act as a support. This zone coincides with the rising channel trendline. I also expect that by the time the stock retests that zone, the 55 EMA will also be there (hand drawn on the chart) to ...
Stock seems to have potential for pullback. Levels are on chart, manage the trade as you like.
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Stock has broken out of a 2 YEAR consolidation phase (range) with great momentum.
Looks like its read for a pullback/retest of previous resistance/new support.
This new support matches with the 61.8 retracement level, which is also where generally reversal happens.
Lets see how it turns out to be. If the stock makes a new high: go long, and cover short if you ...