BALMLAWRIE is testing important daily resistance. Target could be recent high 170.
showed some resistance in the range but finally broke out of the range today and looking at the ema (15,45) theres a good uptrend coming
Head and shoulder breakout with strong bullish candle and volume.
Fibonacci retracement indicates that stock might fall down to lower levels in coming days
This is follow-up on Balmer Lawrie. Can check link to related ideas. Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart. Trade is ON. Disclaimer: This is for demonstration and educational purpose only.
This stock is just on the verge of a big breakout on it's weekly charts but that's not all it is one of the contenders to be in the next list of the companies to be privatized by the government, company looks really sound in it's financial statements too and all of these points make it loo really good to go from here. It has been an underdog from so long but now...
Chart is self explanatory...
Ref chart Vijayaraghavan.K, Kovilpatti
#Balmlawrie - Resistant BO with strong volume. TL tested and waiting for BO further. Safe traders can enter above BO. #SWING #Positional
As its clearly in uptrend and making HH and HLs , we should accumulate this stock till 108 and it has chance of possible upside till 120
Short Term Pick: 30%-40% in 3-5 Months: Looks great above 208. Enter with confirmation when price comfortably closed above 208 on weekly basis. Could reach up to 250/275/300