VMART has definitively broken out of the triangle pattern but is it time to get into the trade? The resistance zone seems to be close whereas the support is way below. Risk reward?
Disclaimer: I am fairly new TA.
Vmart has clocked in a record volume of 1.72 million on a down day. This is a monthly chart and if you notice the arrow pointing to the volume is for the month of July 18. The difference between the high to close is almost 900 points which comes to around 30 % of the stock price. The stock has since struggled to make new highs. We may expect a 50/80 rule by "Mark...
It rose on GST news
Reasons for short:
2)Red candles on Bollinger Bands top
3)Low volumes on Volume profile(This is not shown because I 'm not a pro user here)
Targets based on retracement: