Big trend line breakout , huge volumes can be expected at levels of 53-55 close , targets would be 60/75. the stock had broken out to 70 levels and retraced back . closely watch the stock for its price action .
-6 years old strong resistance breakout with high volume
-Triangle + RSI breakout
-strong closing above major resistance
-Adx rising macd crossover done shows strength in momentum
-my target is 85 which is 40% from current price
📈 Stock Name - Malu Paper Mills Limited
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 61.
🚨 Disclaimer: This is not a Buy or Sell...
Stock has given a Good Breakout above 30.75 with spike in Volume which indicates that in days to come we might see the resistance of previous swing high i.e. of Rs 35-37
with support of 30. Along with Price and Trend Analysis Breakout Momentum indicator is also turn into positive territory.
Stock has bounced back from the demand zone multiple times. Lot of candles with long bottom wick, it's a clear sign that buying is coming at that levels. Buy with a SL below the demand zone.
