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UNITED BREWERIES LTD.UU

UNITED BREWERIES LTD.

1,988.70INRD
−9.45−0.47%
As of today at 05:07 GMT
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UBL trade ideas

UBL Multi-Year Resistance BreakoutAs can be seen in the chart, In the past, in 2018 and 2019, UBL has formed a triple-top pattern. UBL is now edging closer to the same resistance level of 1478.95. On the daily chart , we can see a bullish marobuzo, and on the weekly TF, we can see a hammer candle near the trendline. Bullish candles and the absence of the concept of four-tops formation suggest that the market is strong enough to finally break over a multi-year resistance level and achieve new highs. Once a breakout occurs, it would confirm the ascending triangle breakout, which can lead to a target of ~2000 levels. Width of the triangle is measured to project the target.
NLong
by anaida_sultana
1
3 reasons to buy stock1) Inverse head and shoulder pattern breakout. 2) Strong resistance breakout. 3) Breakout with Huge Volumes. Can be bought now or at the time of retest around 1320-1315 for a target of 1400. Please like and follow! Happy Trading :) PS- I always believe in trading in stock with good to medium fundamentals(can also be seen from my history of suggested stocks). The success mantra for trading is to mix fundamental and technical analysis to protect capital.
NLong
by TradingWithRahul