Hi guys, COROMANDEL look for only if it's break trend line ,sell below 417
***Use Proper Risk and Money management Rule if you don't had a one please watch the play don't trade
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This fertilizer stock just gave a long term breakout at the range of 350-355. Sustainance above this level should take it higher towards 430/450/500++. Currently trading at 365.95..up today 5%.. I see min 30-40% Upside from here if things fall in place.
Your guess is as good as mine with respect to the above question. Better to wait for the price to display its intentions. A breakout past the high of the trading range would be a positive outcome and could propel the stock into a mark-up phase.
Please be reminded that, this is a monthly chart and it makes sense to wait for monthly close above the range before...
As seen after an upmove the price has been consolidating making equal highs and higher lows forming an Ascending Triangle in daily charts. A breakout on the upside with volumes will see 320- 325 levels with 256 as Stop Loss.