GAL (Ghandhara Automobiles Limited)
Price is trading above the 89 Fibonacci EMA, a level it has historically respected, confirming the overall bullish trend. It is also moving above the upward trendline and recently respected horizontal support since August. Stop loss can be placed aggressively below the horizontal support and 89 EMA on closing basis, or conservatively just below the trendline.
Price has broken out of an ascending triangle, and RSI is in sync with the move, adding further confirmation. The first target aligns with the all-time high, while the second target corresponds to the D point of the AB=CD harmonic pattern. A trailing stop is recommended to ride the trend beyond these levels.
Fundamentals: GAL is a strong company, showing positive revenue growth, operating income, net income, and EPS over recent quarters.
Recommended Levels:
Potential upside remains as long as price sustains above 89 EMA and upward trendline. Happy trading!
Price is trading above the 89 Fibonacci EMA, a level it has historically respected, confirming the overall bullish trend. It is also moving above the upward trendline and recently respected horizontal support since August. Stop loss can be placed aggressively below the horizontal support and 89 EMA on closing basis, or conservatively just below the trendline.
Price has broken out of an ascending triangle, and RSI is in sync with the move, adding further confirmation. The first target aligns with the all-time high, while the second target corresponds to the D point of the AB=CD harmonic pattern. A trailing stop is recommended to ride the trend beyond these levels.
Fundamentals: GAL is a strong company, showing positive revenue growth, operating income, net income, and EPS over recent quarters.
Recommended Levels:
- Buy: 560.5 (CMP)
- Stop Loss: Closing below 530
- Take Profit 1: 620
- Take Profit 2: 700
- Take Profit 3: Ride the trend with a trailing stop
Potential upside remains as long as price sustains above 89 EMA and upward trendline. Happy trading!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.