SWANENERGY trade ideas
Next Possible Move , Correction Not over yet I am looking this script that its still in Correction , I will looking to Go long for Longer term investment after making a reversal near 150/145
Swan Energy - Some upmove leftSwan Energy.
Weekly chart
Cmp : 230
Target : 270 plus (conservative target).
Stop : 205
Rationale:
1) V shaped breakout pattern.
2) Series of Higher highs and higher lows has propelled breakout with above average volumes.
LONG A Very Slow and Dragging Price action , Maximum i am expecting to Make til 200 rest , Market Participants will decide
I am already in the Trade One can look for very Small Position in Cash , Stop would be 1 % on CLB 1 Hour
SWANENERGY, LONG, TARGET-205, STOPLOSS- 176Share has made Rounding Bottom (shown by blue curves). After forming Rounding Bottom, Marubozu was formed (shown in black rectangle). EMA 12 days is also moving above EMA 26 days (shown by green and red lines). All these points indicate strong uptrend.
Buy above 151Consolidation phase will be convert into uptrend once the stock crores phase level. Also stock also took support around 108 and from there its given good recovery. In same way i will think that if stock crosses 151 level and it sustain that level so it will give more confirmation. Keeping in mind medium to long term target will 160 & 200. SL will around 130.
short the stock as we can see a dark cloud cover there and bearish engulfing pattern there and price below 8 ema
