HATHWAY trade ideas
HATHWAY low risk buy opportunityHATHWAY has been in an uptrend since March lows. The stock has successfully made a long term bottom clearly visible on a weekly bar chart. Since March lows, it has rallied upto 500% from INR 10-50 and now rests at a support zone of around 33-35.
Total cumulative shares traded since March lows are > 200 million shares, against a float available to public of only 100 million shares. This suggests high likelihood of a cornering in the stock since March. Moreover, only 5% of the company's shareholding is available to the public; 95% is held by RELIANCE .
This week, price shook out weaker hands by dropping below 32 and quickly reversing to close circuit up at 35, all within 2 trading sessions. This could be the start of a new leg up, providing a minimal risk entry point. The trade fails if price falls below 31. The stock is currently trading in T2T segment, hence only delivery trades are allowed.
HATHWAYEWT: wave 5 is half completed, still room to make a long till 50.
Also clear trend-line breakout.
Buy Hathway cablesThe stock has been making flag pattern and is bullish in near term with stop loss at Rs. 28
HATHWAY, LONG, TARGET-53, STOPLOSS-39Share has made CUP and Handle pattern (shown in graph). Last two candles made by Share in day graph, formed Bullish Engulfing pattern (shown in blue box). EMA 12 days has came above EMA 26 days (shown by green and yellow lines). One can long share for the target of 53 with stoploss 39.
HATHWAYTo day stock rise with strong volume. This Momentum may take the stock up to 44.50. SL below 36.50. Entry near 38.50.
Hathway above 200DMA and forming a bullish patternHathway has broken above the 200 DMA and the bear channel. A flag formation is being formed. The stock looks set for a breakout from the consolidation pattern to higher price levels.
