The stock is in uptrend in Monthly.
It is poised to break out of an inverse head and shoulder pattern.
Entry - 51.15
Target 1 - 59
Target 2 - 64
Target 3 - 69.
This video consists following contents -
1. Identification of Support and Resistance Zone
2. Identification of trend of the chart
This chart is only for educational purpose, and there is no buying selling recommendations. Do your own research before taking any trades
Stock name = Filatex India Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score = D
This stock's poor earnings and mediocre price performance mean that you may have better options.
Disclaimer:...
FILATEX popped up on 52-week breakout screener results
A few highlights
Increasing volume in the last few weeks
Trading at a crucial level of around 55
Next resistance at 58
All-time high 71.40
RSI above 60 on a monthly, weekly and daily time frame
Since the next resistance is very close, it's hard to achieve an excellent risk-to-reward ratio when considered for a...
FILATEX is a good stock seems near a possible breakout. I am not a SEBI Registered so please do you own analysis before taking any investment decision on it.
