We have seen an amazing bull run in JSWSteel during the metal sector rally of 2020-21.
Since then, stock has been consolidating with 770-780 acting as a strong supply zone for the stock.
However, the stock has recently taken support from a 3 year old trendline and currently standing at the same supply zone.
If the stock manages to sustain above 780-800 for a couple of weeks, it will confirm a breakout of a flag consolidation and we can expect Bull run 2.0 in this stock as well as other metal sector stocks.
Note:- Metal sectors are cyclical in nature. Please invest/trade accordingly. This idea is shared for educational purposes only and should not be taken as a recommendation.
Since then, stock has been consolidating with 770-780 acting as a strong supply zone for the stock.
However, the stock has recently taken support from a 3 year old trendline and currently standing at the same supply zone.
If the stock manages to sustain above 780-800 for a couple of weeks, it will confirm a breakout of a flag consolidation and we can expect Bull run 2.0 in this stock as well as other metal sector stocks.
Note:- Metal sectors are cyclical in nature. Please invest/trade accordingly. This idea is shared for educational purposes only and should not be taken as a recommendation.
Nota
Additionally, an unorthodox inverted head and shoulders can also be seen in the chart. The weekly RSI is above 60 and in upward direction.You definitely shouldn't miss this breakout.
Trade ativo
Stock has started a good uptrend.
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Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.