Shreyas industries stock is traveling through a descending channel pattern since 2018. Now the stock price is very near to channel resistance. either stock will give a good breakout or continue their journey in the descending channel. But the stock will give a good breakout because there are multiple confirmations
Confirmations:
1-> Stock is trading above the 20 days moving average
2-> Good Volume activity in past days
3->stock is trading near to the 200 days moving average
If the stock crosses the 200 days moving average in a weekly timeframe, the stock will start a bull run.
Buy - after channel pattern breakout
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Confirmations:
1-> Stock is trading above the 20 days moving average
2-> Good Volume activity in past days
3->stock is trading near to the 200 days moving average
If the stock crosses the 200 days moving average in a weekly timeframe, the stock will start a bull run.
Buy - after channel pattern breakout
If you like my idea then please follow me the trading view
Keep learning and keep growing
Thank You