Technical Overview:
1. Support at Rising Trendline:
MANGALAM has found consistent support at a rising trendline on the weekly chart. This indicates a level where buying interest has historically emerged, suggesting potential bullish sentiment.
2. Breakout at RSI Divergence:
The breakout observed in the Relative Strength Index (RSI) divergence is a...
This stock had been a BO after a good move now made a flag and pol PATTERN and given a BO now 1:1 1:2 1:3 RR Achievable.
Its just a my setup let me know about it in the comment section.
DISCLIMER: Its not a call before investing take an advice from your financial adviser.
GIVEN GOOD BREAKOUT FROM MONTHLY TREND LINE AND FORMED CUP PATTERN CAN ADD SOME AT CMP 145 AND IF GIVES DIP CAN ADD AT DIP WITH SL 95 AS CLOSING SL AND TARGET 200-245-300 AND MANY MORE LEVEL CAN COME
Stock should five Valid KBO Setup Next week. Entry Will be Triggered above 202.40 STOP CANDLE CLOSE BELOW KS LOW.
Target 282/320/If Sustains above 320 for 2 Consecutive Days then Big Rally to come/529/640
Stock formed Bullish Divergence and Price did try to push up a bit and resulting to a failure. But this time we have KBO lets see how this Stock reacts after...
A break on the upside through the pennant could see 240 being hit in a week's time. However results out on the 8th of May and therefore may be prudent to observe the pattern till then, before taking a position.
Mangalum Drugs seems to be ending it's downtrend. A close above the UTL could signal the start of the new impulse. It's likely that this impulse would lead it to new highs.
The wave 2 correction in Mangalam Drugs seems to have become a bit complex. Now it appears to be at a structural support. Also there is 61% Fib support. So it's likely that the up move could start.
Any move below wave 1 low would negate this setup.
