GHCL is a multi year reversal setup.
Previously it was able to sustain the multiyear support at 440
Once price sustain the support it made a small continuous pattern similar to cup and handle and given breakout at 553
Higher low in the continuous pattern shows the sign of trend reversal.
It is now facing small trendline resistance near 576 which can lead it to retest level and continue the upward journey later.
It should keep following Higher High, Lower Low format on weekly timeframe for any upside.
Exit if it breach swing low on weekly timeframe or do not sustain the retest level 520.
This idea is for mid term investment or positional trading only.
Disclaimer - Please do not trade based on this post. Contact with your advisor.
Previously it was able to sustain the multiyear support at 440
Once price sustain the support it made a small continuous pattern similar to cup and handle and given breakout at 553
Higher low in the continuous pattern shows the sign of trend reversal.
It is now facing small trendline resistance near 576 which can lead it to retest level and continue the upward journey later.
It should keep following Higher High, Lower Low format on weekly timeframe for any upside.
Exit if it breach swing low on weekly timeframe or do not sustain the retest level 520.
This idea is for mid term investment or positional trading only.
Disclaimer - Please do not trade based on this post. Contact with your advisor.
Nota
As mentioned above trendline resistance can lead it to retest level. GHCL is about to reach the retest level near 523, current price is 529. Once it will reach 523 then it will be the level to decide if it will recover or going to break retest level near 520.Dagangan ditutup: sasaran tercapai
First lower low swing on daily chart and breaking important level.Stock Engineers
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Penerbitan berkaitan
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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.