Steel exchange is consolidating with MM's VCP pattern. Near term target 300.
I previously posted an idea to short BHEL only IF it breaks the marked distribution phase from the lower band. If you see the description of the previous idea on BHEL, you can see that I have written there that ONE MAY LOOK FOR BUYING OPPORTUNITIES IF IT GIVES A BREAKOUT FROM THE UPPER SIDE OF THE RECTANGLE. And here we are Today Bhel gave a good breakout form...
Chart is self-explanatory. Open the chart above for detailed view of analysis. FOLLOW IF YOU LIKE THE ANALYSIS. LIKE AND COMMENT WHAT YOU THINK ABOUT IT!!
This stock comes across as a wonderful #Wyckoff #Re-accumulation candidate. After a prolonged trading range, the price registered a breakout and retest of the range. The volume and price signature today is very encouraging. I am long this stock with a stop loss at 1,700.
The stock has been stuck in a trading range for almost 3-years now. The volume signature within this trading range indicates that major accumulation is underway in this stock. The price action in the past few weeks has been very constructive with volumes picking up along with momentum to the upside. I am watching this stock with interest and would buy it either...