CUB Bullish breakout analysis 21 Nov 23

20 Nov 2023

CUB has given the breakout as can be seen on the chart. we can make a entry once it give us a retrace and then it goes bullish. you can buy the stock once it drops to price 144-146. and hold it till 160 with Risk:Reward :: 1:3 approx.
Reason:

1. Stock has given the breakout of rectangle pattern range 120-142. (Bullish)
   
2. Just EMA(13,200) crossover, also golden crossover. (Bullish)
   
3. Price > EMA(12,50,200). (Bullish)
   
4. RSI > 60 crosing to upside. (Bullish)
   

Verdict:
Bullish Breakout done

Plan of action:
Entry after retrace
BUY: 144-146 after retrace
Stoploss: 141
Target: 160