Reason for long a) Consolidation breakout b) weekly breakout c) QQE long d) Volume and price spurt e) SL compulsory f) Triangle breakout
Reason for long a) accumulation zone as evident by volume bars and several price spikes from the base b) Base of consolidation has several false low... hence upside is prominent; still sl is compulsory
Go for long... Once it breaks we can expect more movement
Multibase India Ltd It is engaged in the business of manufacturing, trading and selling of polypropylene compound Highest ever weekly volume observed and manages to give weekly closing above 297 levels. SL : 285 WCB Only for educational purpose. Not a recommendation.
breakout over 260 can give quick 20 30 percent. for educational purpose only
Presently 200 will act as a support and 241 will act as resistance.
MULTIBASE Weekly Chart Stock is trading in a rectangle box pattern from past few weeks. Volumes are very good from past few weeks. BO from the box pattern will lead the stock to another 100 + points. SL - 168
I'M NOT FAN OF MULTIBASE AS I DONT UNDERSTAND THE BUSINESS MODEL AND MX IS NOT CLEAR FOR ANY INVESTOR INFORMATION REGARDING COMPANY ACTIVITY. THIS POSTING IS PURELY TECHNICAL BREAKOUT. ITS IN RANGE SINCE LAST FEW WEEKS. EITHER SIDE OF BREAKOUT LEADS TO RALLY. KEEP WATCH. THIS IS PURELY EDUCATIONAL IDEA NOT A RECOMMANDATION.
Multibase india if am looking at weekly chart you can see it took 5 years from 2009 to 2014 in consolidation phase around 25-40. after it gave breakout and price went upto 10 times and given high of 342.50. Now again from last 1 year price is in the range of 300-200. can history repeat itself ? who will be on my side to enter in this choppy zone and wait?