Divi's Lab: Potential Upswing as VCP Pattern Nears Breakout with

6 Nov 2024

Stock: Divi's Laboratories Ltd. (DIVISLAB)

Analysis:
Divi's Lab recently experienced a breakout with strong volume, signaling solid buying interest. Since then, the stock has seen some corrective movement, presenting a potential opportunity. The current pattern resembles a Volatility Contraction Pattern (VCP), where price consolidates in narrowing ranges, often a setup for a continuation in the direction of the previous breakout.

If this contraction phase concludes with another breakout on increased volume, it could indicate a fresh upswing and a strong bullish trend resumption.

Technical Setup:

Pattern: Volatility Contraction Pattern (VCP)
Key Signal: Volume spike during breakout
Expected Move: Upside continuation if breakout confirms with volume
Trade Plan:

Entry: On breakout above current resistance, ideally with a high volume candle
Target: Initial target based on previous resistance levels or recent highs
Stop Loss: Below the consolidation range

2 Des 2024

Trade aktif

Already in good profits now, keep trailing,
Safe can book profits,
others can book partial profits and keep trailing remaining for more

4 Des 2024

Trading ditutup: target tercapai

Excellent profit, target closed