Advance Enzymes has saw two types of breakout on daily chart. First breakout is from falling wedge (bullish) trend reversal pattern with huge volumes. Second breakout is from parallel channel (black line) but not supported by volumes. Both the reversal have happened on log scale which is used to gauge the long term trend reversal points. On weekly chart, 10 WEMA...
Advanced Enzymes was in downtrend and now made a base around 210 to 230 levels and seems to be at good daily demand zone
I would buy it around 220 to 225 for immediate target 251, 265, 279 & more. please follow fib ratios for upward targets
Immediate SL would be 209 and Long term SL would be 199
ADVENZYMES, has made a new 52 week low, going with the Fibonnacie Theory, Upside on Cards
Even the Stockastic RSI has moved up towards the 20 zone.
Stop Loss below the 52 week Low
Target : 20 Points from the CMP
Looks like ADVENZYMES has bottomed out around 250 zone and stock has been making higher highs. It has formed a small pennant on daily chart. Above 313-314 looks good for upside level of 350-360 zone. Below 293 pattern failure.
This stock is showing signs of reversal and is showing signs of breaking out.
Long at or above 300 with SL at 280 for T1 - 325 T2 - 350 T3 -375
1. Volume breakout
2. Candles breaking the cloud
3. Baseline Conversion line crossover
4. Green cloud formation
5. MACD buy signal
Only RSI is overbought which will give a slight pullback.
The stock has made retrace up to 88 % of its original move i am looking to go long on pull back near 268/269 with stop of 263 for Target of 290+
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