Everything is visible on the charts. Gillette rests at a very good supporting trend line and has taken a bounce from the lower end of the rectangular range.
Accumulate with 6000 as SL for few months.
The view is purely educational. Consult a certified professional before initiating any positions.
Swing trading opportunity on Gillette.
About to reach lower part of the overall ascending channel. Likely to get the buy setup at the trend line. Personally i will wait for a perfect retrace before entering.
High R/R!
Gillette produces a monthly breakout. After a consolidation for a period of 16 months, price broke out in April very strongly. Technically, the consolidation phase can be considered as a bullish continuation pattern i.e. Bull flag and that means a big uptrend is only about to begin. Technically speaking, potential for the upside is nearly 45%.
Gillette broke out of a multi-month resistance of around 7110 on Friday with a huge upmove. This is a good sign as it marks a rectangle breakout.
However, It is interesting to see if this breakout sustains in near term.
RSI indicates a downturn from this range as it did historically from similar levels.
As per my analysis, the 7100 levels are important to...
