HEG trade ideas
STOCK FOR THE WEEK HEGGood evening Friends
Today we are going to talk about HEG The level to watch is 2322 Remember we are only expressing our opinion on the stock there is no recommendation at al.For detailed analysis watch the video and provide your feedback so that we can improve ourself.
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HEG - Ascending TriangleAscending Triangle forming on 4H Chart of HEG. BUY CMP /2325-40, SL/Support 2175-80, 2150, 2060, Hourly Base after Candle Breakout at 2325-40, Target(s) - 2430, 2500, 2570, 2620. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
HEG ready for a blast✔heg cmp 2195
add @2100 range
2370-90 acting as a good resistance.
once it breaks the resistance, we can see a good ride in the stock.
Why was it selected❓
🔹expecting good growth in this company
🔹Technically looks good.
🔹Funda almost good.
🔹Good numbers.
🔹Company is almost debt free.
👉Entry possible,but it’s not a buy recommendation.Study well🙏
ABOUT THE COMPANY🍂
HEG Ltd is India’s leading graphite electrode
manufacturer. It has one of the largest integrated Graphite Electrode plants in the world, processing sophisticated UHP (Ultra High Power) Electrodes. It is the premier company of the LNJ Bhilwara group.
Thank You.💚
Like🔹Comment🔹Support
HEG VCP Trade. Pivot currently in progress.Disclaimer: This analysis is posted as my online journal for educational purposes only. This is not a buy call.
As you can see in HEG's chart above, it has risen 291% in 22 weeks and it has now experienced 3 tight contractions C1, C2, C3, with the C4 currently being in progress.
The C2 contraction was half of first, but the C3 was 18.5%. The last contraction C4 now ( the week just started today) seems to be forming in a less than 10% range. (Hopefully this tight range is maintained for the running week.)
Another positive sign is that the pivot range is forming above the centre line of the first contraction.
Contraction's less than 10% in the final contraction means that the stocks supply in the market has diminished considerably and the daily volumes are confirming this with below average numbers.
Whenever a huge demand will occur, it's very likely that the price of HEG could explode.
Will HEG explode or turn out to be dud ?
Will it experience a shakeout of weak hands ?
What are your thoughts ?
Watch this space for updates.
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Trade Wisely & Trade Well.
Disclaimer:
The content provided is my personal experience sharing through technical analysis studies.
The content can only be used for education purposes and is NOT a recommendation for buying or selling stock.
Please consult your financial advisor before making a decision.
Trade at Your Own Risk.
HEG breakoutHeg 2018 July high was made ever since this level isn't broke.But current MMT policy coupled with commodity uprise has left heg in an optimistic position where it can break this historic trend line and finally reach at its all time high. As you know metal sectors are at all time high can lead this graphite stock reach are predominant levels
