Swing Opportunity in Glenmrk
Go Long above 544.1 for Targets of 570.5, 596.9, 623.3 and 649.7 with SL 517.7
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support around 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Reasons to go Long :
1. On a daily timeframe if we draw the Fibonacci retracement tool from recent swing low (point A) to recent swing high (point B) then we see stock took support around 0.618 Fibonacci level.
2. A bullish chart pattern, Double Bottom (W pattern) is formed around 0.618 Fibonacci level.
3. Also there is a strong demand zone (marked with purple color), from which the stock initially faced resistance but now is taking support and moving up.
Pesanan dibatalkan
SL got hit before triggering our Buy price, so we will not trade on this setup.
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.