This weekly chart of Can Fin Homes Ltd. indicates a strong potential for an upward move as the stock approaches a key resistance level with bullish momentum. The setup highlights the following trade parameters:
Entry: Around 876.00 INR
Target: 1,023.40 INR (Potential upside: 16.83%)
Stop Loss: 828.00 INR (Potential downside: 5.49%)
Risk/Reward Ratio: Approximately 3.07:1
Can Fin Homes Ltd. is trading within a symmetrical triangle pattern, which is generally seen as a continuation pattern. The breakout above the upper trendline, accompanied by increased volume, signals potential bullishness. The Fibonacci extension levels suggest a strong resistance around 1,023.40 INR, aligning with the previous high. This trade setup offers a favorable risk/reward ratio, making it an attractive opportunity for traders eyeing a breakout in the medium term.
Entry: Around 876.00 INR
Target: 1,023.40 INR (Potential upside: 16.83%)
Stop Loss: 828.00 INR (Potential downside: 5.49%)
Risk/Reward Ratio: Approximately 3.07:1
Can Fin Homes Ltd. is trading within a symmetrical triangle pattern, which is generally seen as a continuation pattern. The breakout above the upper trendline, accompanied by increased volume, signals potential bullishness. The Fibonacci extension levels suggest a strong resistance around 1,023.40 INR, aligning with the previous high. This trade setup offers a favorable risk/reward ratio, making it an attractive opportunity for traders eyeing a breakout in the medium term.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.