iex breakoutiex has delivered breakout, price is above trendline so buy with sl 174 , buy in range 176-176.6 for target 184 or buy 180 ce this months
IEXV2024 trade ideas
Is the struggle for Iex over?As seen on the Chart Iex had been struggling to remove its resistance around 150 zone for a long time.
Recently This stock has successfully removed the price resistance zone with a loud move and post that the price has been sideways creating a flag pattern.
Historically this stock has faced resistance on 66 RSI Level and as seen on the chart currently also we haven't moved above the RSI resistance.
A breakout from the flag pattern may be a multifold breakout.
a) Resistance breakout will get confirmed
b) Flag Pattern breakout
c) RSI resistance Breakout
We can also see the fall from 17th March 2023 to 28th March 2023 took 8 trading days.
similarly, the rise from 29th March 2023 to 11th April 2023 took 7 trading days.
This shows the bulls are back in the stock with ammunition loaded.
One must wait for the stock to breakout from the mentioned resistance and then keep a stoploss below 152 for target of 175.
THE ABOVE VIEW IS ONLY FOR EDUCATIONAL PURPOSE. ONE MUST CONSULT THEIR FINANCIAL ADVISOR AND TRADE WITH THEIR OW RESPONSIBILITY.
Analyst
Abhay Bhatia
IEX LONGThe stock is likely to go up... the chart is looking good. and risk reward is self explanatory . one can go long based on this .. this is what i call a minimum projection of price might touch. targets SHOULD ALWAYS flexible but have a tight stop loss.
IEX Fresh Trendline BreakoutIEX (Indian Energy Exchange) I am Buying IEX Future around 163 With Stoploss of Today's Low 158 For the Targets of 175+ in the Next 15-20 Trading sessions. (Swing Trade)
Reasons:
# Share Price has seen fresh trendline breakout.
# Stock has crossed 20EMA on Daily and 4-Hourly Chart.
# Price Pattern on Daily Charts: Double Bottom "W" Pattern Seen.
# Stock has already seen More then 50% Significant Correction from all time highs.
IEX Bullish ViewThis is clearly a bullish view which is identified in IEX the basis of this if you can clearly check the chat weekly or daily time frame of nifty energy. There is a clear retracement and re-testing which has been done in nifty energy.
