FILATEX trade ideas
FY21-22 Swing Trade Idea #169: Long on FILATEXThis is a public swing trade idea (other private ideas accessible through website) and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
Filatex_ Positional View/Short TermThe particular stock has given a breakout on 10 May'21 (Breakout-Retest-Breakout) as mentioned in chart. Currently it is consolidating in " Symmetrical Triangle " since past one month.
Positionally, it is right time to add in your portfolio as stock bouncing from support.
Note: Refer chart to better understanding.
FILATEX INDIA - Pennant Pattern HistoryThis analysis is inspired after a well wisher asked me a query on this stock.
I see this stock has had a pattern so far of jumping from the 20 SMA in the form of a pennant pattern while riding the Rising Parallel Channel.
This time around the 20SMA support is formed near the midline of the channel which is why I suspect the channel resistance can be broken.
Lets wait and watch how it performs.