IEX Wedge Formation: Ready for breakout
Indian Power and Energy sector is in a bull run of its own and we are seeing several stocks in this sector that are performing well. IEX also looks really good with a wedge formation. Wedges are essentially neutral patterns made up of a resistance and a support line. Breakout on either side should enable you to take a position. Since this particular stock and the sector overall has been in a big bull run, I believe that IEX can breakout on the higher side as the wedge is getting squeezed.
Jatin Agarwal
Founder and CIO at MoneyCraft (SEBI RIA)
Creator at The Bull of Dalal Street (YouTube Channel)
Founder and CIO at MoneyCraft (SEBI RIA)
Creator at The Bull of Dalal Street (YouTube Channel)
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