Positional or Longterm Opportunity in Divis LabGo Long above 4498.1 for Targets of 4804.15, and 5110.2 with SL 4192.05
Reasons to go Long :
1. On a Daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support from 0.618 Fibonacci level.
2. In addition to this the stock gave Trendline breakout on a Daily timeframe.
DIVISLAB trade ideas
Divi's Labs - BreakoutThe co gave a fab result and an incredible guidance going forward.
The stock has since shown relative strength even in a falling market.
The stock is on the verge of breaking out of a downward sloping resistance but mainly crossing back above 200EMA.
Long at Current price with stoploss below 4350.
DIVISLAB - Few points away from breaking long term supportDIVISLAB is trading near to its long term support zone of 3900. It has formed a closed range in last 3 days and coming very close to breakdown.
If 3915 is broken then it can fall to 3900 & 3850.
If stock closes below 3900 then more fall can follow.
Best case to trade this is if it opens around 3920 and move down. Safe traders should wait for it to cross 3900 and when it sustains below this level for 15 mins, go fo short.
Trade should not be initiated if there is big gap down like stock opening at 3990 directly and start moving down.
Trade with risk management.
Thanks
Piyush Gupta
Learn & Earn
Weekly Chart - Trendline Support I am not sure about taking a long position, given the weak market outlook.
Just sharing a few stocks I am keeping a track of which have reached their trendline support and might be a good time to accumulate in piecemeal.
DIVISLAB seems to be at its weekly trend support and it will be a key level to watch out for.
Not an Investment Advice. I am just curious to see how it plays out.
Low Risk Entry for Positional Longs - DivislabDivis Lab has been regularly taking support at 50 weekly ema and has always given a good move post taking support, entry at current levels with a stoploss of weekly close below 4350 gives a good risk reward for a move to ATH and beyond.
NOTE: VIEWS ARE FOR LEARNING ONLY