Buy Trident Ltd. - Long Term DeliveryBuy Trident Ltd. at current market price with stop loss placed below 47 and target of rs. 80 to 90 within a time frame of 1 year.
Charts of trident are looking positive and broken above the downtrend channel which is bullish reversal sign with price volume action. Recently one white shoulder pattern creation has confirmed the bullish reversal.
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TRIDENT trade ideas
Trident - rebounding from crucial support (Investment stock)Scrip is gearing up with MACD momentum to reach to target price and beyond
Rest in charts.
Bullish momentum sign
1) SMA - Price range is above SMA-15 and SMA-200 and SMA-15 is above-200 which gives strength to ongoing momentum
2) Rebound from support levels where resistance has become support now
Aiming towards TP and beyond thereon after entry confirmation until the scrip substains above 83-85 levels
SL as per risk appetite
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The scrip had dissapointed with somewhat declining Q2 results henceforth the fall.
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Nonetheless, It is seen that company has potential to grow and recoup for previous result
Trident : Evening star in motionThe scrip can go either ways. If going in bearish mode, The bears can manage to retrace the scrip back to its default surge start..
Chances of bearish reversal due to:
1) %william near overbought situation and showing downward trend although yet to see confirmation
2) Evening star candlestick pattern in play
Bulls again taking control after breakout and sudden bullish surge from head and shoulder (somewhat) pattern is required to take it to newer highs
After bullish surge continuation or even accumulation beyond entry range, Bullish run expected beyond 52-week high Resistance
Support can be taken as per risk appetite
Rest in charts..
Trident - reversal on cardsScrip has been consolidating so shorters and swing traders could analyse and take short profits at resistance 1
Long position if scrip manages to cross 52 week-high at resistance 2
Reversal could be on cards as %william is in oversold stage and bulls might be able to take the ride
Keeping SL at support level..
Company with good fundamentals can manage to break crucial resistance