Bullish Breakout in Meghmani Organics
Big Volume breakout in meghmani organics. The stock broke above its 9 month old rising trendline (blue) which it had violated in january. the stock also breached the resistance trendline (red) which was holding back the stock for a long time.
This move was accompanied by massive volumes and points to a classic price and volume breakout in the stock.
Going forward Meghmani will target the 100-110 congestion zone where it traded in early to mid 2018.
Higher targets are possible once 110 is cleared on a weekly basis.
One can go long in Meghmani Organics with a DCB stoploss level of 87 (dotted line)
This move was accompanied by massive volumes and points to a classic price and volume breakout in the stock.
Going forward Meghmani will target the 100-110 congestion zone where it traded in early to mid 2018.
Higher targets are possible once 110 is cleared on a weekly basis.
One can go long in Meghmani Organics with a DCB stoploss level of 87 (dotted line)
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