BREAKOUT - PULLBACK - CONTINUATION - CAN BE GOOD REVERSAL TRADE!
The stock gave an ascending triangle breakout and after the initial impulsive move, has corrected.
It retested the initial breakout level of 86.5. The corrective wave retraced 61.8% of the impulsive wave which is a great retracement.
The RSI has also cooled off.
The stock looks good buy above 91.2 level, carry on day closing basis for positional targets 92.25, 94 and 97.
Since this is a reversal trade, intraday is not recommended.
Put SL day closing below 86.5 and trail.
Learn & Earn,
Dr. Tanya Kumar
It retested the initial breakout level of 86.5. The corrective wave retraced 61.8% of the impulsive wave which is a great retracement.
The RSI has also cooled off.
The stock looks good buy above 91.2 level, carry on day closing basis for positional targets 92.25, 94 and 97.
Since this is a reversal trade, intraday is not recommended.
Put SL day closing below 86.5 and trail.
Learn & Earn,
Dr. Tanya Kumar
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.