ONGC breakout after 10 years on monthly time frame.

14 julONGC reached this level in 2014 after 10 years now this level has been broke out and ready for the next target. It has been seen in many stocks that if a stock gives breakout after a long period of time i.e. 10-15 years, then according to past experience like every one has seen what happens in RECLTD and PFC becomes multibaggers. So, like wise every one to keep eye on this stock as it has also given 10 years breakout.
Further, if we talk about technically on monthly time frame RSI indicator is in overbought zone and MACD is rising relentlessly. Whenever stock comes in overbought zone, it may stay there for a period of time and then after it may exit the overbought zone which means stock will show some correction.
Investor can participate in this stock as it is showing great strength on monthly chart. As I mentioned above the best examples of monthly breakout may results in multibaggers.
Before investing your hard earned money, every investor should decide when to exit if stock does not go in their favour. By following this method you will take limited loss, but keeps you to alive in this market for next investment.
Disclaimer:- This study only for learning purpose. This is not a recommendation to buy/sell stock. Before investment take advise of your finance advisor or expert. Thank you. Follow for more.