Chart analysis:
Pattern: Symmetric triangle pattern BO happened and re-testing of BO is happening.
Breakout: BO of 1.5 years trend line and support is taken at 0.618 which is Golden Ratio .
Volume: Volume action is clearly visible near breakout zone.
Trade setup:
Entry price: Close of 1400 price break candle.
Stop loss: Below 1320.
Target 1: ...
GOODYEAR | Strong resistance breakout - Looks good for 30-40%
CMP : 1296
SL : 1200
Target : 1650
1:3+ risk reward setup
P.S : The blue colour line is just for fun, just trying to make a visual for pleasant view. I'm just a pure supply demand trader. There is no logic in that curve line
In the Weekly Chart of GOODYEAR ,
we can see that, it has given Cup & Handle Breakout.
Let it retest and then Enter with SL and Target as per your Risk Ratio.
On MACD and RSI stock is showing extreme bullishness. Though stock moved from the initial buying point of 920 to 990 but volatility is very low indicating price action to happen. It is experiencing some supply at 1000 levels. Once it close above 1000 sellers will be taken out.
Jk tyres and Apollo tyres are also forming bullish patterns, chances are not only they...
Chart -> Goodyear Weekly
Wonderful symmetrical triangle breakout, as we can see on the chart.
CMP: 1200
Good Range: 1150 to 1200
Target: 1330
SL: 1100 Weekly Close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Perfectly working on fib levels
Green line is 0.5 of Low to High
Blue line is 0.618 of hammer low to All time High
975 imp level if it holds this level
New ATH can be seen
a good trader always buys at low and sells at high,which is called profit making principle of real trader.Goodyear ltd is at ultimate zone of support.Patience for a period will give decent output.post your opinion in comments.
Goodyear is the fundamentally strong company with strong and consistent dividend paying history so far. Taken support at 990 and showing the sign of reversal.
Fresh entry can be made at 1050 with stop loss of 990. Upside rally can be seen till 1100 and 1200.
Can add this stock at every dip with prospective of long terms investment
The reason for picking this...
Swing Trade -
buy above 1035 and keep Sl below 950
IntradayTrade -
buy above 1020 which is previous day high and safe buy above 1035
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for...
