Symmetrical Triangle breakout seems rally may continue consider for short sell if price sustain below 109
Tnpetro Long idea buy around 124 Sl. 120.5 Target -133
Price gave breakout and consolidating above support level. Going above 149 level can be continuation of up move.
The stock is in uptrend.The RSi is still above 75 and is expected to remain there.The volumes are also stable. See chart for targets
A proper symmetric triangle can be seen forming on 30mins Time Frame. A breakout on upside can show a good upmove till the market target.
Stock with consistent financial performance, quality management, and strong technical momentum indicating good investor enthusiasm. Currently valued at Good to expensive valuation
Stock touched the support line yesterday and is on up move today. May go upto 110 range. Will keep the SL at 94
TNPETRO gave a 4 year bullish breakout from a 'rounding bottom' pattern. A significant rise in volumes confirms the breakout. MACD has indicated a buy signal. Bullish on the stock if it breaks its resistance on weekly charts and closes above it.
On Friday we saw the entire sector moving, (Panama Petro, Manali Petro). Hopefully the momentum will continue next week too.
1. Relative Strength 2. Volume Pick up 3. Pattern Break 4. 52 Week High
Looks Amazing, the stop again can be taken as the low or median of the weekly candle
TNPETRO FLAG BREAKOUT BUY NEAR 52 SL 42 T1 ... 60 T2 ... 70
My idea is for educational purose. Buy TNPETRO @ 52 for short term gain 10-20%.
After Retest stock is ready for move buying opp. tgt 61 keep sl 48