Long term consolidation break out - ADROITINFOCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favor that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
Catching the early birds in the stock market and not everyone (especially retail traders) can do it. The art is investing fixed amount equally in every stock and let the law of numbers work on compounding in the longer run,
Example: 5000/- invested equally in all BO stocks where out of 15 stocks only 1-2 stocks goes beyond -50% SL, where rest of the stocks flies like an eagle. The secret recipe is "Patience with correct study" and "Large diversification" and "TIME"
The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play.
Time makes money, GREEDY & EGO will not make money.
Also, magically these breakouts tend to prove that the companies turn around and fundamentally becoming strong. Also the magic happens when more diversification is done in various sectors under various scripts with equal money invested in each N500 scripts.
The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play.
LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
ADROITINFO trade ideas
ADROITINFO's Trendline Support and RSI SupportIn this post, we will conduct an analysis of ADROITINFO's chart, focusing on the approaching trendline support, RSI support, and the potential for a short-term bounce. By examining these technical aspects, we aim to provide insights into the stock's current situation and the potential for upward movement. Let's delve into the analysis and explore the situation.
Chart Analysis:
Upon reviewing the provided TradingView chart for ADROITINFO, we can observe that the stock is approaching a trendline support around the 17 level. This support level indicates a price level where buyers are expected to enter the market, potentially leading to a bounce in the stock's price.
RSI Support:
In addition to the trendline support, we can also observe that the RSI (Relative Strength Index) is showing support. The RSI is an oscillator that measures the speed and change of price movements. When the RSI reaches support levels (typically around 30-40), it suggests that the stock may be oversold and due for a potential rebound.
Short-Term Bounce Potential:
Considering the approaching trendline support and the RSI support, there is a potential for a short-term bounce in ADROITINFO's stock price. The bounce could potentially drive the price up to around 20. However, it is important to exercise caution and wait for further confirmation before entering a trade.
Complete Test and Daily Chart Confirmation:
To increase the probability of success, it is advisable to wait for a complete test of the trendline support at the 17 level. This test will help validate the strength of the support level and confirm the potential buying opportunity. Additionally, traders should wait for a green signal or bullish indication on the daily chart, such as a bullish candlestick pattern or a positive crossover of moving averages, to further validate the potential upward movement.
Risk Management:
Implementing risk management strategies is crucial when trading or investing. Setting a stop-loss level helps limit potential losses in case the anticipated bounce does not materialize as expected. In this case, a suggested stop-loss level of 15.20 can be considered, but individual risk tolerance and the support levels on the chart should be taken into account when determining the appropriate stop-loss level.
Conclusion:
Based on the technical analysis, ADROITINFO's chart indicates the approaching trendline support at the 17 level and RSI support. These factors suggest a potential buying opportunity and the potential for a short-term bounce in the stock's price, with a target around 20. However, it is crucial to wait for a complete test of the support level and obtain further confirmation on the daily chart before considering a trade.
Traders and investors should consider these technical factors alongside other fundamental and market-related information before making any trading decisions. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
Disclaimer: The information provided in this blog post is for educational purposes only and should not be considered as financial advice. Trading stocks involves risks, and past performance is not indicative of future results. It is advisable to consult with a financial advisor or conduct further research before making any financial decisions.
Adroit Infotech LimitedADROITINFO:- 4 year breakout soon. Buying volume was good keep an eye on it if breakout is found good stock for short term
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow :)
check my other ideas to get to know about all the successful trades based on price action.
Thanks,
Ajay.
keep learning and keep earning.