PCJ about to go up.after a strong rally downwards post budget, the prices are consolidating and the investors are slowly picking up on the stock. The Stock is about ot go in an uptrend. Soon about to breach the narrow wedge formed for the past few days.
Disclaimer: Only for Educational and testing purpose.
PCJEWELLER trade ideas
PCJEWELLER detected buyers and price attraction by buyersBuyers already attracted this stock to buy at 52. and the CMP is at 60.
We expect a price spike on this stock for target 74-77 first one.
There are two strategies for entering into this stock, 1). buy between 55-58 with stop loss of 52 and 2nd). buy above 63.7 above and wait for the target.
--> I don't not use Fin Retracement theory on all stocks but when require then it will give us perfect trade. I used Fibonacci Analysis: Bloomberg Market Essentials: Technical Analysis theory. I have studied and price for 1.5 years.
PCJ - ATTRACTING JEWEL!!PC JEWELERS IS TAKING SUPPORT @ 106 LVL (50% FIB LEVEL OF THE EARLIER RISE).
IF IT FALLS FURTHER, THEN IT MAY REACH 92.
FROM THE CHART IT APPEARS THAT PC WILL GO TO 160.
IF IT CLOSES ABOVE 163, THEN NEXT TARGETS ARE 204 AND 237.
FROM THE INVESTMENT PERSPECTIVE, PCJ CHART APPEARS TO BE QUITE ATTRACTIVE.