!!MAHINDRA MOTORS POSITIVE BUILT-UP!!
Diupdate
1)MONTHLY CHART
-The stock managed to close above its previous crucial resistance zone
-we saw a pennant breakout
-macd turned positive
-rsi at 59 needs to cross 63 for higher levels which will be achieved in the coming months
-if the stock manages to close above 1478 on monthly basis then we will achieve higher levels
MONTHLY TRADEVIEW
BUY @1480
STOP @1430
TARGET @1580-1660
ITS A LONG-TERM TRADE FOR A MINIMUM PERIOD OF 6 MONTHS
2)WEEKLY CHART
-on weekly chart the stock managed to close above 1478 which was last seen as on 4/7/2016
-rsi has gained strength
-macd has shown positive momentum
-we saw a symmetric triangle pattern on weekly chart
-we saw a symmetric triangle-breakout
WEEKLY TRADEVIEW
BUY @1478
STOP @1430
TARGET @1530-1550-1580
TARGET IS NOT BASED ON PATTERN LENGTH WAITING FOR A MONTHLY CLOSE
3)DAILY CHART
-rsi is at 69 which saw a sharp spike such spike show that the levels of rsi is increased till 80 but before that the stock will test 1508 before entering overbought zone
-macd has shown positive crossover
DAILY TRADEVIEW
BUY @1478
STOP @1450
TARGET 1508
-The stock managed to close above its previous crucial resistance zone
-we saw a pennant breakout
-macd turned positive
-rsi at 59 needs to cross 63 for higher levels which will be achieved in the coming months
-if the stock manages to close above 1478 on monthly basis then we will achieve higher levels
MONTHLY TRADEVIEW
BUY @1480
STOP @1430
TARGET @1580-1660
ITS A LONG-TERM TRADE FOR A MINIMUM PERIOD OF 6 MONTHS
2)WEEKLY CHART
-on weekly chart the stock managed to close above 1478 which was last seen as on 4/7/2016
-rsi has gained strength
-macd has shown positive momentum
-we saw a symmetric triangle pattern on weekly chart
-we saw a symmetric triangle-breakout
WEEKLY TRADEVIEW
BUY @1478
STOP @1430
TARGET @1530-1550-1580
TARGET IS NOT BASED ON PATTERN LENGTH WAITING FOR A MONTHLY CLOSE
3)DAILY CHART
-rsi is at 69 which saw a sharp spike such spike show that the levels of rsi is increased till 80 but before that the stock will test 1508 before entering overbought zone
-macd has shown positive crossover
DAILY TRADEVIEW
BUY @1478
STOP @1450
TARGET 1508
Catatan
DAILY TRADE TARGET ACHIEVEDCatatan
Trading ditutup: target tercapai
2nd target hit
Catatan
weekly target hitCatatan
Trade aktif
FOR OUR 3RD TARGETCatatan
NOW I HOPE FEW PEOPLE HAVE LEARNT TO TRADE THE TRIANGLE PATTERNS.......NOW WE WAIT FOR OUR PULLBACK WHICH HAS ALREADY BEGAN I EXPECT IT TO CORRECT MORE
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*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
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