Philips Carbon : Range breakout or Channel confinement ??

Philips has given a breakout from a range of close to 200 with decent volumes. So should you buy the breakout ?
I would wait for it to break out of the upward sloping channel. If one looks at the last breakout, it did enter a long consolidation as it failed to break that channel. In stock market there is a saying, "History repeats itself". Will Philips carbon defy that this time ?
History repeats...confined to the channel again
I think I would wait for the retest of this break out. What is your opinion?
sudhansrini sanjaygomber
Agreed. I would infact be slightly aggressive to buy close to the breakout levels of 195 with a strict SL of 195 and targets of 210. 235 and 250. The las two are based on fibo retracements.
sudhansrini sudhansrini
Sry SL of 190
Pls see the next post for my targets and entry
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