Triangle breakout pattern in Honeywell Automation India Limited
Honaut has given a reversal recently and has given a breakout today. Abandoned Baby Pattern
honaut at resistance possible upmove wait for the daily close
whenever there isnt a wick at the top near the bottom of the bullish channel it has become the dream of a trend trader touching the upper channel for the perfect entry one has to wait for a higher high and only take entry after a decisive close over the weekly swing high try doing a valuation and company seems very appropriately valued at the moment
triangle breakout... breaking out of a corrective downmove after a few weeks look for upmove to new highs . initial targets marked on chart
buy Honeywell Automation...................................................................................................................................................................................................................................... .......................
Honaut retesting important fib levels of ratio 1.414 (40800). Can enter into a long position with CMP with SL of 39000 and more can be added around 1.27 (39500) with targets as mentioned on the graph.
#Honeywell Automation India Ltd. Cmp 40000.30 #Retest of top made on 12 Feb 2020 done #Bullish Candlestick on 200 DEMA at same levels #HAIL #MNC #StocksToInvest
Following Chart is of Honeywell Automation which Clearly shows Tweezer Bottom at the Support Level of @39130 The trend must get reversed with Targets anywhere around @48000 to @50000 if the Strong Resistance Level is Broken @45000 The RSI is just reversing from the Oversold Region which hints a nice time to buy. All in all you will end up with a sweet 11% profit...
WE CAN OBSERVE FLAG FORMING..TRIANGLE EFFECT..GOOD STUFF FOR LEARNING
Head and shoulder pattern in making 30 % upside in less than 3 month possible (study purpose only)
Honeywell auto (HONAUT) long - Can be good swing trade, All levels marked in the chart. View posted for educational purposes only.
👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 1000 Followers 🔥🔥 🔥 Common sense used : 📌 Weekly time frame: Make 2 fib from 2 different from one will give you 30% retracement of price and one will give 50% - a sign of extreme bullishness 📌 The supply zone is broken and now converted into a demand zone on those bullish levels...
Took support at the 50% fibo retracement + 200EMA + 10MEMA and now looking to breakout of the descending trend and make a new higher high. There is also a double RSI +ive divergence. Long above 42000 SL 39990 Target 47750 and then 50,000++ Above 42,000 post entry if the stock moves 5% shift SL to cost and let it ride with a low risk exit if the markets turn...
If it breaks out then it will give a good return.
Why Buy : 1- Near Support of 42000 2 - KST Positive 3 - Hull Positive # I have bought 3sh @ 42100 TGT : 1 - 49000 ( Daily and Weekly Resistance ) with 14% Upside
Stock has corrected from life time high and now has taken support at Fibonacci levels. Big bullish candles followed by big volume is seen in day chart. Target of Rs 49000 and SL at Rs 41000 should be noted.