Amazing breakout on Weekly Timeframe - MANAKCOATCheckout an amazing breakout happened in the stock in Weekly timeframe, macroscopically seen in Daily timeframe. Having a great favor that the stock might be bullish expecting a staggering returns of minimum 25% TGT. IMPORTANT BREAKOUT LEVELS ARE ALWAYS RESPECTED!
NOTE for learners: Place the breakout levels as per the chart shared and track it yourself to get amazed!!
#No complicated chart patterns
#No big big indicators
#No Excel sheet or number magics
TRADE IDEA: WAIT FOR THE STOCK TO BREAKOUT IN LOWER TIMEFRAME AND RETRACE IF NEEDED. SL IS NEARER SUPPORT ZONE IN Daily TIMEFRAME.
Checkout an amazing breakout happened in the stock in Weekly timeframe.
Breakouts happening in longer timeframe is way more powerful than the breakouts seen in Daily timeframe. You can blindly invest once the weekly candle closes above the breakout line and stay invested forever. Also these stocks breakouts are lifelong predictions, it means technically these breakouts happen giving more returns in the longer runs. Hence, even when the scrip makes a loss of 10% / 20% / 30% / 50%, the stock will regain and turn around. Once they again enter the same breakout level, they will flyyyyyyyyyyyy like a ROCKET if held in the portfolio in the longer run.
Time makes money, GREEDY & EGO will not make money.
Also, magically these breakouts tend to prove that the companies turn around and fundamentally becoming strong. Also the magic happens when more diversification is done in various sectors under various scripts with equal money invested in each N500 scripts.
The real deal is when to purchase and where to purchase the stock. That is where Breakout study comes into play.
LET'S PUMP IN SOME MONEY AND REVOLUTIONIZE THE NATION'S ECONOMY!
MANAKCOAT trade ideas
MANAKCOAT - Weekly Chart Analysis, CMP-34.95On the monthly chart the price was not able to sustain above 25 levels which we see now seems sustaining.
Probably coming our of small base of 8 weeks and 20.5% range it is well sailing above all its key moving averages with decent volumes. Quarterly sales are improving.
18-25 levels will now act as strong support and a weekly close below it with a follow through will invalidate our view.
42.5 - 62.55 will be the primary targets as these are the resistance above. After successful breakout of these levels 74 - 90 - 111 are the levels it can test over the long term.
Disclaimer: This is just a study and shared here for educational purpose. It is not a buy/sell recommendation in any way. If you intend to trade this counter then do your own due diligence and trade at your own risk.
Manaksia Coated Metals & Industries Limited Short Trade Manaksia Coated Metals & Industries Limited Short Trade
Manaksia Coated Metals & Industries Limited Short Trade. Target is 21. The breakout level is 19. Once the breakout is done target will achieve soon.
Target 1: 21 (will hit today, if not today then this week)
Might provide a big move in today's session.
Happy Trading!