Escorts has corrected around 5% this week and has closed near its low of 2794. This means next week it can remain under selling pressure and test support of 2743/2675. Any pull back towards 2846/2927 will be good short opportunity. What are your views on this, let me know in comments. Thanks for reading and happy trading.
ESCORTS - Breakout Confirmed, Potential for Upward Movement
ESCORTS has recently broken out, with a confirmed breakout above the resistance level. The stock is currently supported at 1925, and has potential targets of 2086, 2144, and 2214+.
This stock is definitely one to keep on your radar as there is a good chance of upward movement.
While NQ is getting close to its resistance, ES is about to break the flag here.
Watching the flag to break to pop in on the long side, otherwise not really doing much at this time
Watching the close above 3959SPX for a continuation into 4010+ zone next week.
Will jump on the long side if we hold that level on the close
Check the orange line and see a link for the SPX chart below.
ES stopped at the support trendline (we broke out from on Jul 27th and now re-tested from the top)
Expect this to be a good support for at least this week.
SPX already broke it but stopped at smaller trendline from Sep 1 and 6th lows.
Apparently I can post 10 charts per day on this website and not...
I wont rule out a gap down tomorrow into the support cluster zone of 3910-50SPX.
ES has a small H&S pattern, visible on 5 min and bigger ISH, visible here.
Im not going to fight it when it breaks in either direction.
The cycle window for the low is today, it can stretch into tomorrow with lower lows being bought in am and rally all day.
This is my best guess for...
Am looking for this downside. As double top formation formed on top secondly overall market structure is bearish. But only on closed below 1785 on daily.
ALL THE LEVELS AND PATTERNS ARE MARKED ON CHART, RED ZONES DENOTES SUPPLY ZONES AND GREEN IS FOR DEMAND ZONE .
SELL AT 1430
The indicator used:
1) Daily Lines plots Daily 20 (BLACK) & 50 EMA (GREY) on lower time frame charts
2) TE-REKAB
- PB : PULLBACK
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The analysis is my POV,...
What a rally. Almost 300% in a year. The question is Escorts still will go more up or the right time for correction. Well, Multiple confirmations on the current price. Elliots Impulse, XABCD, and ABCD all [rz on same levels which make a strong supply zone for Escorts. Investors can book profit in the current zone. Traders can take a small Position for...
On weekly chart inverted head and shoulder pattern can be clearly seen.
Stock already broke the H&S neckline, now if it sustains above 900 levels and monthly closing comes above 900 then stock may start a fresh rally to the upside till 1150 /1300.
Major support for the stock stands at 750-800 levels.
