This presents an attractive opportunity for swing traders to capitalize on the potential uptrend in Petronet LNG.
Reasons are listed below :
Target - 340 // 380
Stoploss - weekly close below 260
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.
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Reasons are listed below :
- Breakout of Strong Resistance at 300: Petronet LNG has successfully broken above a significant resistance level at 300, signaling potential bullish momentum.
- Bullish Marubozu Candle on Weekly Timeframe: The presence of a bullish Marubozu candlestick pattern on the weekly timeframe suggests strong buying momentum and potential upward movement.
- Breakout from 6+ Years of Consolidation: The stock has broken out from a consolidation phase lasting over 6 years, indicating a significant shift in market sentiment and potential for sustained upward movement.
- Trading Above 50 and 200 EMA: Petronet LNG is trading above both the 50 and 200 Exponential Moving Averages (EMA), confirming bullish bias and indicating potential for trend continuation.
- Support from 0.382 Fibonacci Level: Finding support at the 0.382 Fibonacci level and bouncing back reinforces the bullish outlook and provides a solid foundation for potential upward movement.
- Trading at All-Time High (ATH): Petronet LNG is trading at its all-time high, indicating strong bullish momentum and potential for further gains.
- Constant Higher Highs: The stock consistently forms higher highs, reflecting increasing bullish momentum and reinforcing the potential for further gains.
Target - 340 // 380
Stoploss - weekly close below 260
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