Case Study for duration / accumulation / momentum
(1) First instance of TGC
(2) First instance of TGC + Strength Candle
(3) Series of Indecision candles with increasing lows
(4) Breakout candle for #BoxBO
If JKPAPER gives a close abv 152 would be a good bet going forward!! CCI is in sideway move for now, if we get a break abv 85 or 100 lvl on CCI is a good sign for a breakout with momentum!
Technical : Cup With Handle Break Out Target 144/165
Fundamental Good : (Fundamental Target 300)
1.Total Eq Cap : 176.25cr
2.Return% on Total Eq Cap Quarterly : 7.27%
3.Return% on Total Eq Cap Yearly : 6%
4.Debt : 1.08cr
5. Stock PE : 12.26
Daily chart shows reversal from long term support zone with closing of subsequent days on heavy volume above the downward trendling. It is indicating heavy buying pressure resulting in the reversal of the downtrend.
target - 103.50
stop loss - 94.5
If anyone holding JK Paper should now look to exit and book out.
It has broken the trendline and it may very well go down till below levels.
Target 1- 78
Target 2- 72
As seen JK Paper has formed positive reverse divergence, which gives us a good re-entry in the stock.
A positive reversal divergence is when price makes higher low but the RSI makes lower low, which implies that even though RSI is weakening and making a lower low but still price fails to break the previous low and makes a higher low, making it bullish. Positive...
Why am I bullish about the stock?
JK Paper has formed Flag Pattern breakout in the Daily charts with nice volumes, indicating a continuation of the upward trend.
Also, it has given a breakout of the rounding bottom pattern in the daily charts.
It is bullish in larger time frames as well.
Aggressive traders can enter the trade at cmp , whereas more conservative...
It is been observed on the daily chart that the price action forms a descending triangle shape pattern which is counted under a flag pattern due to it size. It is also been observed that the price action is breaking out from 83.50 levels, which is ALL TIME HIGH LEVELS. Therefore, the price action indicates strong positive sentiments, where buyers have full...
