Stock has given a clear inverse head and shoulders pattern breakout on weekly charts in today's session and looks pretty much ready to approach higher levels. Buying looks to remain intact and long positions can be taken.
Aptech had given a strong weekly breakout and has risen since then. This week, it has formed a strong bearish Engulfing pattern with decent volume and is on the edge of breaking a trendline.
Also, The RSI is into highly overbought zone ! the way it has been consolidating at 151 can mean it will either break this level or show a good up-move. More bias being to...
Although I am not a fan of equities. This is big holding of RJ. I am making this chart on someone's request. You can refer this for proper entry levels :)
HIGH VOLUME AND DELIVERY QTY, RECOMMENDING LONG.
Entry price: 93-95
Stop loss : 83
Target price : 120-125
return/risk ratio : 3
Disclaimer:
I am not a registered investment, legal or tax advisor or a broker/dealer. All investment/financial opinions expressed by me are from the personal research and experience. These are intended as educational material.
Aptech stock broke both the resistance trendlines in both the price and RSi and has been witnessed with huge volumes on the stock even when the price has made a fall, which represents bullish fundamentals..
Good for long-term investments..
![APTECHT: [Basket] Aptech Price Action Analysis](https://s3.tradingview.com/t/tXsVZ6P0_mid.png "[Basket] Aptech Price Action Analysis")
