Resistance Breakout with Good Volume.
The chart speaks!
After a long consolidation, FACT has broken out of the consolidation zone. Possible start of the third wave. A follow-up in next week and fireworks ahead!!
* Fertilizers & Chemicals Travancore (FACT) is engaged in Business of Complex Fertilizers and Ammonium sulphate. * Stock has given a 18 years long consolidations breakout on weekly chart & closing basis. * If we look at the volume part, significant volume activity is witnessed at the time of breakout. * Price has also trading all the important moving averages. *...
FACT shows cup and handle pattern in weekly chart. Can buy at cmp with a stop loss of 52.35 or can buy in dips. The technical target is 88 (As this is weekly chart need to wait for at least 6 moths to 1 year for the targets to get achieved). Can go long with a trailing stop loss. Note: I am just a beginner. This chart is for learning and educational purpose...