Emkay Global is currently at a multi-year support and resistance level. This indicates that the current price is at a significant historical level where the price has shown previous behavior of reversal or consolidation.
The immediate resistance level is at 184. This is the next price point where selling pressure might be anticipated.
If the price closes above 184, there is a potential for it to reach a new all-time high (ATH). This is a bullish indicator suggesting strong upward momentum if the resistance at 184 is decisively broken.
The supertrend is green, which is a bullish signal indicating the current trend is upward.
The price is above the 9, 21, 55, and 200-day EMAs. This alignment is very bullish, showing strong short-term, mid-term, and long-term upward momentum.
The RSI is above 50, which indicates positive momentum and a bullish market sentiment. Typically, an RSI above 50 suggests that buying strength is greater than selling strength.
The RS is above 0, indicating that the stock is outperforming the market.
Waiting for a price reversal for entry.
Trading Plan Considerations:
Entry Point: might consider entering on a pullback near a support level or after a confirmed reversal pattern (like a bullish candlestick pattern) to ensure buying at a relatively lower risk point.
Setting a stop loss below the recent support level can help manage risk in case the trade does not go as planned.
First Target: Immediate resistance at 184.
Second Target: If it breaks and closes above 184, the next target would be monitoring for the new ATH.
Monitoring Indicators: Keep an eye on the RSI for any signs of overbought conditions and the supertrend for any potential trend reversals.
Volume Analysis: Consider monitoring the volume as well; a breakout above 184 with strong volume can give additional confirmation of a sustained move.
The immediate resistance level is at 184. This is the next price point where selling pressure might be anticipated.
If the price closes above 184, there is a potential for it to reach a new all-time high (ATH). This is a bullish indicator suggesting strong upward momentum if the resistance at 184 is decisively broken.
The supertrend is green, which is a bullish signal indicating the current trend is upward.
The price is above the 9, 21, 55, and 200-day EMAs. This alignment is very bullish, showing strong short-term, mid-term, and long-term upward momentum.
The RSI is above 50, which indicates positive momentum and a bullish market sentiment. Typically, an RSI above 50 suggests that buying strength is greater than selling strength.
The RS is above 0, indicating that the stock is outperforming the market.
Waiting for a price reversal for entry.
Trading Plan Considerations:
Entry Point: might consider entering on a pullback near a support level or after a confirmed reversal pattern (like a bullish candlestick pattern) to ensure buying at a relatively lower risk point.
Setting a stop loss below the recent support level can help manage risk in case the trade does not go as planned.
First Target: Immediate resistance at 184.
Second Target: If it breaks and closes above 184, the next target would be monitoring for the new ATH.
Monitoring Indicators: Keep an eye on the RSI for any signs of overbought conditions and the supertrend for any potential trend reversals.
Volume Analysis: Consider monitoring the volume as well; a breakout above 184 with strong volume can give additional confirmation of a sustained move.