RUCHIRA : Breakout Candidate📌#ruchira : #breakoutstocks
>> Momentum Building up
>> Volume contraction visible
>> Beautiful VCP Structure
>> Good Strength & decent Volumes
Swing Traders can lock 10% profit & keep trailing
#swingtraders #trading #vcppattern
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Disclaimer : This is not a Trade Recommendations & Charts/ stocks Mentioned are for Learning/Educational Purpose. Do your Own Analysis before Taking positions.
RUCHIRA
Breakout in Ruchira Papers...Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
RUCHIRA : Perfect Double Bottom exampleRUCHIRA : On my Radar from July-18th, when trendline breakout happened on Hourly time frame.
Here is the history-
2022-07-18: ADX/DI+ are >25. Cross WK Piv Upside - Shooting Star. Close is above SMA-20 on D/Wk/M time frames.
2022-07-19: Crossing 4 week High. RSI crossing above 60 on M/W/D time frames.
2022-07-22: ADX > 28
2022-07-27: Cross WK Piv Upside, Bullish EngulfingOn Daily time frame SMA 13> SMA 34> SMA 55 & Close crossed D13 Up.
2022-07-28: Stock In Squeeze - 3 days, Gravestone Doji & Normal NR7
2022-07-29: Normal NR7 - Breakout
2022-08-01: Close Crossing 4 week High, Out of Squeeze, on Monthly time frame 20-SMA Cross Upside 50-SMA
2022-08-02: Doji Star (Watch)
2022-08-04: SMA 50 crossed SMA 100,
Based on the chart pattern, if sustains above 132.95 - we should be seeing 143, 153 and 175 levels soon.
Wait for the re-test to complete and enter after your own research.