#Sumo chemical#Sumo chemical
Buy on dip for good RR
Above 420 on CLB
Target -438/469/544+
SL-366
CMP:418 @ 5 February 2022
Sharing only for learning.
SUMICHEM trade ideas
Sumitomo Chemical Cmp 419 dated 4-2-2022Sumitomo Chemical Cmp 419 dated 4-2-2022
1. Rectangle BO @ 411
2. Long TrendLine BO @ 420
3. Hammer Candle Stick High @ 419
4. Rounding Pattern on chart.
5. High Volumes.
6. Debt free Company.
Buy above 420 for a tgt of 480-540 SL 390
It is just a view, pls trade at your own risk.
Swing trade: breakout and pullback donebouncing from 0.6 fibo level which is previous breakout level as well.
broken trendline.
can buy at cmp for target of 460 and 540
stoploss below 380(weekly candle low)
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
Flag and pole pattern?CHART -> SUMITOMO CHEMICAL WEEKLY SETUP
As seen per charts, there are few things to note:
1. In weekly time frame, it has given a beautiful flag and pole breakout.
2. Last breakout candle has been with marginally better volume.
3. RSI has gone above 60.
4. MACD crossover during breakout candle.
Targets:
1. All Time High: 460
2. Flag and Pole target: 540
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
Sumitomo chemicalSumitomo chemical breaks above the support to match earlier highs, as long as it respects the support line.
SUMITOMO CHEMICALS IND LTDThis is just for educational purpose and no buy or sell recommended.
Chart is self explanatory and if it shows a good green breakout candle then consider this for long positions
SUMICHEM LongLooks good for a move up above the cluster plotted
Disclaimer:
The content of the idea and the interpretation of data are solely my personal views which being said I do not warrant its completeness or accuracy.
This idea published is purely intended for educational and informative purposes, I urge traders to make their own trading decisions based on their specific trading objectives and financial position
Buy at 402 SL 394 TGT 407 413Suggestions are based on my analysis only. Please do your analysis before taking any trade.
Sumi ChemStock taking support of 50EMA in weekly TF, Good to accumulate at current price, can retest its high.
Happy Trading, Stay Healthy Be happy.
KEM CHO-(Chemical Sumitomo ready for breakout)Sumitomo Chemical- Daily Timeframe
I love how well does the change in polarity concept works and as we can see here the stock is trading near its earlier support which is now acting as resistance and while looking at the volumes we may witness a breakout and be ready to enter our positions for the mentioned targets. RSI outlook is also positive. Only for Educational Purposes.
reversalSumitomo Chemical broke and closed above falling trendline, RS flipped to positive territory.
Medium volume breakout can be expected in the directionThe fundamental of the company are advancing.
The topline is expanding and with the momentum in the chemical sector, this stock can outperform.
Looks like the start of next rally.Likely in the final wave 5 of the 1st full impulsive wave. T1: 500, T2: 645
sumichem channel breakoutsumichem has been in a channel for a good amount of time and today gave a breakout. good for swing trade
sumichem - parallel channel crossstock after bouncing back from important monthly trendline line and moving out of daily time frame parallel channel.
chemical sector is becoming leading sector for this week.
entry- after some retracement
stoploss- at near range
target - partial profit at every peak
Bullish Divergence & Break out on Daily charts for Sumitomo ChemSumitomo Chemicals seems to be giving a BO on daily charts, volumes are decent, RSO is close to 60. The RSI has given bullish divergence, this can be confirmed with the BO given today of the falling trendline with decent volumes.
Disc : Invested, not a reco to buy or sell.
Sumi ready for a double breakout - Stay tunedSumitomo is getting for ready for a trendline breakout and resistance breakout
Stay tuned above 400
Disclaimer for learning purposes only!
SUMITOMO CHEMICALI am seeing a breakout from flag pattern.
one can take a target for yellow lines to, stoploss as per risk appetite
do your own analysis before taking the trade
Sumitomo Chemical Elliott Wave Structure Sumitomo Chemical Elliott Wave Structure :- This stock follow Elliott wave principle, stock trade in the 4th corrective wave on the weekly chart and it forms a complex corrective structure almost complete. It is ready for the 5th wave on weekly chart and two Elliott cycle complete on daily chart and third Elliott cycle beginning. Target prices are 460,490 and 530.
Declaimer
Before Investment and trade please advise your financial adviser. only for educational purpose
Flag and pole pattern in SumiChem?CHART -> Sumitomo Chemical WEEKLY SETUP
As seen per chart, it looks like Sumitomo Chemical is trading under a flag and pole pattern. Any side of the trendline breakout, may it be on the upper or lower, will decide the further path of the stock. For breakout it has to cut the trendline on a weekly close candle.
As per today's scenario a morning star, which is bullish reversal pattern is forming on the chart. If price sustain around 380-385 or higher than that upto this coming Friday, we may see strength in coming weeks.
Also as per today RSI has also gave a breakout, showing strength of bulls.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
Expecting breakout ✌✌✌This scrip is expected to give breakout in the coming days as it had formed a falling wedge pattern. So traders keep on your radar to catch the momentum. Thanks to all 🙏🙏🙏
