The stock is coming out from a nice tight range on good morning volumes. Let's see how it works from here keeping levels just under days low as a good exit point should it fail
PC Jewelers-A Much beaten stock showing strength and legs to move up by another 10%-15% towards 40 from its current levels. As i strictly follow technical analysis alone really not aware on whats happening fundamentally for the turn around.
I beleive Technical analysis discounts everything and any fundamentally good or bad things happening its captured by Price...
PCJEWELLER is again in narrow Bollinger Band squeeze which happens repeatedly with this stock (red arrows) and then it breaks out explosively up. RSI and volumes show nothing significant as of now. BB squeeze can lead to massive up or down break. Waiting if it will breakout again this time.
A very strong Break out has been on the charts of PC jewelers along with a rounding bottom pattern. Long above 37 for the target price of 50-60-65 with SL of 25. This is for your educational purpose only.
PC Jewellers.. seems turn around happing in stock..CMP:97. Add more qty on dip till 80..sl:75(wcb)..target:open...very risky bet.. maintained position sizeing... Monday big down expected...buy once market get settled
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mall trade opportunity in PC JEWELLER. As the market is highly volatile. Make sure to have the correct stop loss as the trade might get reverser immediately.
Target 1: 42
Target 2: 48
Stoploss: 30
Happy Trading!
