UFLEX has formed inverted H&S on daily chart. Volume was decent on head, near the breakout and after breakout. It has bounced from both neck line and support line around 229. We'll wait for counter to close above BB mid line and 257 (swing high) for confirmation of start of uptrend to achieve pattern target. RSI and CCI has given MA cross over but it's very minor...
You can check the below range as given in chart for Uflex Ltd.
You can take trade if it comes in that given range.
I'm sharing my views only for Educational purposes
Before Taking trade doing your own analysis.
@ Prasad Analyst
Uflex is in dntrend, but if 200 level sustains and mfi and adx shows divergence and strength may be a turnaround case, the company business seems good prospect. Huge Positive volumes at 200 138 and 106 can be seen earlier. Pls comment on my thoughts
Trying to steal a long from otherwise a bearish stock.
Buy on the breakout with close trailing stoploss.
First target is marked with small greenline, if it closes above it then next target would be the big falling green line.
Major structure is bearish but local structure is indicating the possibility of small bullish move within the bearish structure.
Do hit a...