Another stock breaking out after a good range of compression. Strength can be expected here as well!
Trade explained in Chart..
pullback in relaxo for target 540
Positive Divergence in Stochastic, Bullish MACD crossover with strong histogram formation.
another low volume breakout stock .. above 477 nice move expexted
Enter only above close of 471 for Target of 474 With SL 469 For day trade only
Relaxo seems to have broken out of it's downtrend and has completed an a-b-c correction. It can be longed with a stop below the 0.618 fib with a target of an all time high.
