ASTRA MICROWAVE Defence Stock | Price Near BreakoutExtra Microwave stock is trading near support and going into breakout range now, if it breakouts then good.
Elliot Wave also has ABC correction.
RSI Also Positive.
Price Traded near 50 EMA.
If the price breaks the resistance then we can think of entry. The entry will be on the breakout of the resistance candle and the stop loss will be below the Low of the breakout candle. The target will be the next resistance.
Sidewayschannel
Analysis on demand of Subscriber | #1 | IndusTowersA weekly supportive level with a daily trend line that too supportive if both broken downwards cant give u good momentum unless a big gap down takes places with follow-up selling on it making it a gap down power candle (RED). Well, we can't see that happening here + it also has good resistance on the upper = it needs a big (green) candle power one with volumes above average to make it bullish for the future too. Thus a side way momentum is generated in such cases.
I would have a neutral approach on this stock unless any one things of the 2 mentioned above happen.
I hope u like what I see and help u people in any way...
Happy trading :)
Sideways channel break out looking for uptrend Levels mentioned on the chart.
our target 2 times more than our risk.