the stock traded in a very narrow consolidation zone for the last couple of hours yesterday, so when it breaks, it can show good moves.
SL is mentioned when short or long triggers.
trail the stoploss to book target or get out as per your wish.
Stock is seeing bearishness for many days. It has completed its HNS pattern and is currently trading at the neckline. Short when price breaks below this neckline.
plan A: if swing high is broken, then go LONG at 942 and target is mentioned in chart
plan B: if swing high is not broken, and a red candle is formed, go short when the low of first red candle is breached. Target neckline of HNS pattern
buy above 117
target 1: see chart
target 2: see chart
stop loss: 111
This stock is showing bullish momentum, it could move up and touch its overhead resistance or even breakout too.
In monthly time frame, long lower wicks seen in last two months which indicates buying is happening at lower levels, so if its upper resistance is broken, the stock has the potential to go up.
Target cannot be decided as no upper resistance known, so trail your stop loss as per your choice
Stop loss as per your risk appetite.
Very interesting pattern, with negative market sentiment due to US-China tussle, one can short when PDL breaches with SL as PDH.
My personal view, trade with your own risk management and after consulting with your own financial advisers.
As per technical analysis, it can easily go towards its support level. Given the market sentiment, the stock is more likely to come down towards its support level. Let's see where it goes as market is supreme!!!
These are my personal views. If anyone wants to take this trade, take as per your own risk and consult your financial adviser.
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