Trendline breakoutA downward and horizontal trendline is broken and an upside move can be seen in this stock.
1st target - 123
2nd target - 130
PFC trade ideas
[Positional] PFC Swing Buy Bet Weekend Strategy Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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PFC resistance breakout and fibonacci PFC resistance breakout and fibonacci support levels respected. Short to medium term bullish anticipated. Target can be 150 if trend continues.
*** Purely personal analysis ***
Investment in securities is subject to market risks. Kindly consult your financial advisor before investment
PFC - CMP 137.7.PFC - CMP 137.7. It has met all its previous given targets and almost trading at year highs, latest one is identified when at 122 recently and published in this tradingview site. Now be cautious because of 2 reasons whenever it met is top edge of Bollinger band as done now, it tried to retrace and came back to lower end of BB in 4 out of last five occasions and to mid level of BB on one occasion. Also it is facing trend line resistance at current price. Will it come down to 120 levels again to be seen. If it crosses its trend line and closes above trend line it may be in uptrend for some time but will be only for limited period up to 140-145 range but chances of coming down are high after 140-145 range also. This view is for educational purpose and not any trading recommendation.
Is PFC breakout possible ?After more than 620 days It had now crossed 137.5. Can it move up with the same potential or Is it a false breakout again?
Please evaluate my analysis:
On 15th (Monday) March if the bullish candle forms and closed above resistance then It will go up. If bearish candle forms then again downtrend
on 12th (Friday)Massive Increase in volumes and RSI also crossed 60 increases bullish probability…
PFC 121.8PFC-121.8. It has fallen from recent high of 135.9 and consolidated. Now it will start its upward journey to reach previous highs of 136 and 140 in near future. Its last quarter EPS is 10 and stock is trading at very cheap valuations. It is also a holding company of REC. Buy for target of 130, 136, 140++ with a sl of 107 in near term also good dividend paying company. Last year in Feb'20 they paid interim dividend of 9.5. This time also they may pay. This is for educational purpose only. Consult financial adviser before investing.
