Unveiling the Potential in MAXHEALTH's Current Trend

25 Jan

Welcome, traders! Today, we're diving into a fascinating analysis of MAXHEALTH, a stock that's showing some intriguing movements on the charts.

Understanding the Current Situation

• MAXHEALTH has been a topic of interest lately, especially as it comes down from its all-time high.
  
• Our focus will be on its behaviour around the 125 minute demand zone.
  
• We'll analyse its movement on different time frames to get a comprehensive view.
  

Technical Analysis of MAXHEALTH
On the the daily chart, MAXHEALTH displays a clear uptrend. Notably, the price is reacting from the 20-day Exponential Moving Average (EMA 20) and an uptrend line. This confluence of indicators suggests a strong bullish momentum.

Furthermore, in the weekly chart, there are no significant supply zones overhead, indicating a relatively clear path for potential upward movements.

The Power of Demand Zones
In our 125 minute chart, we observe a robust demand zone. After this zone was established, MAXHEALTH broke its previous all-time high. The price has now returned to this demand zone and is showing positive reactions.

Trading Strategy and Risk Management
Considering the current scenario, planning a buy trade seems promising. Your stop loss (SL) should be placed just below the demand zone. As there are no immediate supply zones on the HTF, one could consider riding the rally, periodically trailing the stop loss.

For those targeting specific gains, the first target could be the all-time high of MAXHEALTH.

Please note that this analysis is for educational purposes only, and I am not a SEBI registered analyst.