1) City Union Bank is being consolidating for long period of time
2) It has formed a bullish candle at support level
3) potential up side is 32 %
Risk Reward is 1:6.5
If it close above 125 . Then go for buy .
Buy 123 to 125
Target 137 to 148
So wait for better conformation . This analysis is not for intraday purpose .
If it break 123 Wait for better confirmation
First target to buy 123
Second target to buy 119
Third target to buy 110
up-to 110 it is in sell trend .so wait for better conformation.
If it is break 110 also so dont wait for confirmation . Then conform it is in sell trend
CUB - weekly charts
Since the stock was listed, the only time is broke the 200 EMA support was in the crash of 2009, and now.
On the weekly charts, it has made a bullish engulfing pattern with supporting volumes. One can buy on dips and hold for a year+
CUB is in a similar territory.
S& R & Stochastic RSI is indicating a breakout to 140 is on the cards soon.
Buy after a clear break above 130 for targets of 140. SL - 122
Can keep buying below 130 awaiting the breakout. - Thats what I am doing.
