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possible breakout if crosses the trend line
Stock has performed triangle breakout on weekly chart with volume, RSI is at 55 and moving towards north direction indicating bullish momentum.
Description on chart
-Beautiful Ascending Triangle formation in Relaxo Footwears.
-MACD turning bullish.
-Volume action not looking great, so I'll wait for a break on high volume before going long.
Not an investment advice. Do your own due diligence.
Buy RELAXO on a close above 714
9.3 months momentum
5 months elapsed, remaining 4 month
Target 778 / 879 /1043
Another stock breaking out after a good range of compression. Strength can be expected here as well!
Trade explained in Chart..
Enter only above close of 471 for Target of 474 With SL 469
For day trade only
Relaxo seems to have broken out of it's downtrend and has completed an a-b-c correction. It can be longed with a stop below the 0.618 fib with a target of an all time high.