Self Explanatory & Annotated chart.
VWAP works really well in this stock.
We also got a VCP pattern breakout, today was a retest day, so one can go LONG now!
No Targets in mind but good chance of reclaiming prior Swing High and even exceeding it.
- Self explanatory & Annotated Chart
- Key Levels are Marked
- Enter at BO level @ 1340
- Exit at Target level @ 1445 , approx 7-8% upside
- Time Frame is few Days
- Stop Loss level for Risk as per your choice also mentioned
- High probability setup based on AVWAP Study + Multi Time Frame + Pattern + RSI
- Stock is Bullish on all time frames for a Mean Reversion...
Bounce from Support with Consolidation BO:
- Stock resting at 50 DEMA but below 20 DEMA
- Volatility compressing ready to BO
- Bias is Long
- Note: The colorful lines in the chart are Anchored VWAPs (from range top candle, new range breakout candle, march bottom candle)
Buy Now for better Risk/Reward or wait to Buy above 17,050
Target @ 17,900 - 18,000 range....
[22nd May, 2020 EOD Analysis}
Self explanatory & Annotated Chart
- DO NOT Short as long as it is above 714/ Orange Anchored VWAP
- Bullish on Higher Time Frames too & better not to fight the trend. Shorts would only be for a minor pullback
- If you notice there is also an Ascending Triangle breakout. Once we get above the Rising TL it will...
Anchored VWAP Analysis self explanatory in Chart. Additional Pointers:
- Range Breakout in place
- Breakout accompanied with Expanding volume signaling the Range was an Accumulation Zone
- Stock is also above 5 day EMA , 20 day EMA, 50 day EMA, 65 day EMA (ALL are Sloping upwards and above each other respectively)
- ADX is above 25 on daily chart...
- Trend is Still Bullish as RSI not yet oversold
- RSI hit overbought few days back and currently stock undergoing a pullback
- Price around 65 Day EMA & close to VWAP. Let it get above VWAP & 65 EMA to initiate a Long
- Accumulation can be observed on the 5 min charts and the last few candles in the 30 min chart as shown above
- Bears will be in control only if...