GLOBUSSPR trade ideas
GLOBUSSPR bearish Pattern on Weeklyit has formed evening star on weekly chart. rallied far away from 20WMA. so it seem mean reversion is happening now. it can fall upto 910 -1050 zone for support.
on daily chart we can see lower high formation. and if it starts trading below last close price. confirms it is forming lower lows.
Flag pattern breakout Stock is following a trend of flag pattern breakout and rallying afterwards. Expecting it to continue the same again. Can be bought now for a target of 740 and if someone can keep it for a bit long, it can come to 800 as well. SL will be 635 on a closing basis. CMP-705
Please like and follow!
Happy Trading :)
Potential Pullback Opportunity - Globus Spirits After having made a spectacular rally, Globus Spirits has retraced now upto 50% fib. retracement level. The Price Volume action at this level indicates a high probability for the upmove to resume at this level. SL can be below the 61.8% level while profit target can be initially at 100% and subsequently, beyond that, as it will be in "Blue sky zone".
Globus Sprits - On the verge of breakoutGlobus Spirits is appearing to be on the verge of a breakout after forming a nice base over the last several days/weeks. The recent spike in volume on the Green days and the price action forming HH/HL is adding credence to the possibility of a breakout on the upper side. The company is expected to announce their quarter results later today..
Conservative traders might wait for the results and then can take an appropriate action, strictly following their Risk Management processes.