Tourism Fin Corp just broke and retested the neckline of the cup pattern. It has been forming a cup pattern since 2018, and it almost took six years to reach 175 levels. Recently, it has broken the neckline or resistance level with fair volume. One more thing is that it also retested the same levels and continued the uptrend. The monthly, weekly and daily relative strength index is above 60. The volume is increasing. If it retraces near 195 to 200 levels, it would be a good entry point with previous low stop loss. If you measure the depth of the cup and put it above the neckline, that would target 325 levels.
This stock has drastically fallen from 267 /- to 198/- seems operators game or promoters selling.. does it seems to even break its 52 week high in short to medium term??
vikasbhekare
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@manthan6296, It looks like the stock price has been spiked up and there is a huge selling. It was looking good as there was consistent volume. The neckline levels 177 has tested twice before the spike. If it drops below 190 levels, I would book the profit and get out of the trade.
manthan6296
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@vikasbhekare hope you got out of this stock.. its falling everyday.. just one UC was seen as big shots had taken an exit..
manthan6296
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@vikasbhekare i hope you have taken an exit.. its falling everyday.. everyday 5% LC.. invest in good companies like Varun Beverages..
vikasbhekare
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@manthan6296, My stop loss order got triggered and executed.