Swing Opportunity in M&M Finance
Go Long above 154.6 for Targets of 160.45, 166.3, and 172.15 with SL 148.75
Reasons to go Long :
1. If we draw Fibonacci Retracement from swing low (Point A) to swing high (Point B) on a 1-day chart we see the stock took support around 0.5 Fibonacci level and moved up.
2. On 0.5 Fibonacci level the stock has made a bullish candlestick pattern (Bullish Harami) and another bullish candlestick pattern (Bullish Engulfing) around 0.5 Fibonacci level.
3. Also we can see that the stock is forming double bottom (W pattern) which is a bullish chart pattern.
4. In addition to this there is a strong demand zone (marked with a purple color ) around 0.5 Fibonacci level from which the stock is moving up.
5. Also there is a high possibility that the stock will give a trendline breakout.
Reasons to go Long :
1. If we draw Fibonacci Retracement from swing low (Point A) to swing high (Point B) on a 1-day chart we see the stock took support around 0.5 Fibonacci level and moved up.
2. On 0.5 Fibonacci level the stock has made a bullish candlestick pattern (Bullish Harami) and another bullish candlestick pattern (Bullish Engulfing) around 0.5 Fibonacci level.
3. Also we can see that the stock is forming double bottom (W pattern) which is a bullish chart pattern.
4. In addition to this there is a strong demand zone (marked with a purple color ) around 0.5 Fibonacci level from which the stock is moving up.
5. Also there is a high possibility that the stock will give a trendline breakout.
Trade aktif
Entry triggered on 12 Aug 2021Trading ditutup: stop tercapai
SL hit on 17 Aug 2021
Pernyataan Penyangkalan
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Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.