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 bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.