EDELWEISS trade ideas
Swing tradeThe stock has reversed from the lower support and can be taken positionally above 67 level for first target of 72
STRONG BREAKOUTSTOCK didnt even fall in down market whkch indicate strong buy in stock
- Heavy Volume Breakout
-Above moving averages
- RSI above 60
BUY AT 80-84 , Targey around 125🎯
#EdelweissBreakOut Above 93
SL: Previous Candle Low of Breakout Candle
Ascending Triangle Pattern
Volume Also Good
Invalid Below 70
EDELWEISSKeep an eye, Decent Breakout
Till trading above 70 it should be good to touch next resistance of 101
Edelweiss- A chart worth looking.This is a chart which is worth looking at.
Monthly chart is reflecting that it is at its demand level in monthly time frame. Most importantly it stopped making lower highs and lower lows after a long long time.
Last time stock moved to higher levels exactly from these levels and now testing the same levels again.
Monthly Chart for the reference:-
Looking at weekly chart it is riding a trendline and making higher lows as well. We can look at it other way as well .
Sellers are getting weak with every swing and are unable to push prices at lower levels.
Weekly chart for the reference :-
Now finally lets look at daily chart
Price is testing/rejecting levels of 86.50 again and again. and it is kind of making an ascending triangle which is also giving positive signs and dont forget to look at the volumes which is being generated in last few trading sessions.
Keep an eye folks Fingers Crossed.
Happy Trading.
Edelweiss : Can it deliver multibagger returns in medium term Breaking out on the charts...
IMO, this stock Can deliver multibagger returns in the medium term
sl 62
tgt 170 /185
Follow risk mgmt principles .. and trade as per your risk appetite
EDELWEISSNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Cup and Handle FormationI had previously recommended this stock above 73.2 level. The stock is making a cup and handle pattern and looks good above 80.7 level for more upmove.
Support below, resistance above, wait for trendline to breakWait for the trendline to break, there is an old support below, a fib retracement of 50 percent, and a resistance above. Can be bought after a good breakout from the current trendline.
EDELWEISS LONGBOUGHT around 70.8....accumULATE on dips till 65.5 for short term target of 78......long term target of 95,120..........with sl below 62 on day closing basis
3rd elliot wave
