APOLLOTYRE

11 Okt 2021

Apollo tyre, this stock has not seen a deep correction which is typically happens in wave (2), instead, the stock has gone through a phase of consolidation and the weekly macd indicator has turned positive, the recent bullish crossover in the weekly macd indicator boosted the next step of up move which has been started with breakout along with good intensity of volume in daily time frame, wave structure also suggests the same direction of upside, one can go long at these levels or in dips ( if any ) with mentioned key levels on charts.

key levels and wave structure

breakout candle with good intensity of volume

another view of breakout head and shoulder pattern too

another view of breakout flaf and pole pattern

breakout with bbc

macd in weekly

macd in daily

rsi in daily uptick above 60

dmi adx positive ungali setup


Disclaimer
i am not sebi registered analyst
my studies are for educational purpose only
please consult your financial advisor before trading or investing