Keep a close eye on NATIONAL ALUMINUM.Keep a close track of NATIONALUM because it's close to breaking out. For the past year, the stock has been moving within a supply demand range, forming a rectangle pattern.
By Looking at chart, you can see that it has repeatedly reached resistance and then returned to its support level.
Today, it has once again reached that resistance level, and it seems likely that it might break the pattern. If it does, we would need to see a relatively large candle followed by Good increased in volume for confirmation.
Trade can only initiated when it sustain above the line at 89,
We can partially book our profits at 93.35 as first target. We can even go longer after reaching 1st target.
Stop Loss at 85.
Do prepare your own setup, this was only for Educational purpose.
