Daily Bullish Flag Breakout in Universal cable for 20% upsideHi,
NSE:UNIVCABLES has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on daily, weekly and Monthly time frames. RSI is also on the bullish side on daily and weekly time frames.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose.
Please share your feedback or any queries on the study.
Disclaimer: Please consult your financial advisor before making any investment decision.
Universalcables
Inverted Head & Shoulder Chart Pattern Breakout* Two chart pattern completing at the same time ( Inverted Head & Shoulder and Symmetrical Triangle ) High conviction set up .If it made above 200-day moving average gives more confident .
* In daily time frame high volume buying initiated today that gives gives a bullishness sign .
** Before the breakout this stock made a symmetrical triangle pattern and breakout with Significant volume .
Kindly Let us Know if you have any questions.
Universal Cables: Nice breakout & RetestThis chart is a nice case study on those interested in identifying support, resistance and breakouts. After a big breakout, price dribbled lower to seek support at the prior highs, that acted as support. Notice the drop in volume during the fall and the pick in volume last week.
Interesting stock and I bought a few last week. Will add more on further rise.
Universal Cables: Interesting Price ActionThe stock has been in a consolidation for a while now. There has been some semblance of buying interest in the past few weeks. The recent price action indicates tight consolidation near a short-term resistance. A breakout past 110.6 would be interesting event to look forward to. Am watching this one for potential long entry.