SWING IDEA - CRAFTSMAN AUTOMATION
Consider a potential swing trade opportunity in Craftsman Automation.
Reasons are listed below :
Target - 5440
Stoploss - weekly close below 3700
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Strong Support at 3700-3800: The stock has established a solid support level in the range of 3700-3800, formerly a resistance zone, indicating a significant shift in market sentiment.
- Bullish Hammer Candlestick: A bullish hammer candlestick observed on the weekly timeframe suggests a potential reversal and uptrend, signaling increased buying interest and bullish momentum.
- 0.618 Fibonacci Support: Finding support at the 0.618 Fibonacci level strengthens the bullish case, providing a strong foundation for potential upward movement.
- Constant Higher Highs: The stock has consistently formed higher highs, reflecting a trend of increasing bullish momentum and reinforcing the potential for further gains.
- Double Bottom Pattern: A double bottom pattern has formed on the daily timeframe, indicating a potential trend reversal and adding further confirmation to the bullish outlook.
Target - 5440
Stoploss - weekly close below 3700
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Trade active:
Price up by 5% ++
Momentum seems strong, we can hold for targets.