Will Shree Cements go up ???
Reasons/Traits :
• Measured Move up pattern formation is seen
• Last 3 days candle sticks pattern shows as 3 black crows
• Todays close is exactly at 0.236 retracement level of last swing high and also taking a support of a trend line break out (4)
• Price took support of 12 EMA with decreasing volume
What can happen next :
Scenario 1 : Stock uptrend to continue and reach 31979 (earlier life time high) /32766
Scenario 2 : Downtrend post break down of 0.236 Fib level to reach 0.382/0.5/0.618 or till 50 EMA support level
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Measured Move up pattern formation is seen
• Last 3 days candle sticks pattern shows as 3 black crows
• Todays close is exactly at 0.236 retracement level of last swing high and also taking a support of a trend line break out (4)
• Price took support of 12 EMA with decreasing volume
What can happen next :
Scenario 1 : Stock uptrend to continue and reach 31979 (earlier life time high) /32766
Scenario 2 : Downtrend post break down of 0.236 Fib level to reach 0.382/0.5/0.618 or till 50 EMA support level
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Note
scenario 2 activated, broke 0.382 levels as of nowNote
touched 0.5 levels and took support, lets see if it sustains..Note
touched 0.618, all levels completed as per scenario 2Trade closed: target reached
all targets achieved scenario 2
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.
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.