Turbo Breakout in SCHAND

17 de jul.

SCHAND

S Chand & Co. Ltd. engages in publishing and trading educational books. It operates through the Domestic and Overseas geographical segments.

Timeframe - Day Chart Analysis 🧐
🔹View: Breakout of range.
🔹Structure:- The stock has been in a range from the start of March 2024 and now it has taken support of the weekly trend line and moved above 200 EMA.

- It should give a breakout soon as the earnings are due in a few weeks.

-RSI Forming a bullish divergence.
- Volumes are low on downfall moves and up moves are on good volume spikes.

🟢Entry: I am considering Two possible entry scenarios
1st - Buying above the last four days range @255 This would be regarded as an aggressive entry.

2nd - Taking a breakout entry above the range 256, That's a breakout of the extreme range which is a horizontal resistance and inverse head and shoulder pattern

♦️Risk :- Stop should be kept below the recent swing low at 225 on day candle closing basis.

🎯Targets:- Target levels are marked on the chart With blue line based on Fibonacci retracement zones.

Detailed analysis on chart Study it and mark levels on your chart

15 de ago.

Comentário

Trade not active set alerts below the entry price so that won't miss the entry when it revisits it.