Ratnamani- Trendline Breakout With Consolidation
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This stock is breaking a trendline which it has already tested thrice. And most important thing to consider is this is the first time it closed above 1330 and that is with the closing near it's high.
Some other points to consider is:-
1) Consolidated before breakout for good 4-5 weeks.
2) Volume was gaining while consolidating.
3) Today's Closing with high volume shows some good interest of buyers.
Weekly chart for the reference:-
I hope it will help someone in the community to understand.
Keep an eye ladies and gentleman.
Cheers and Happy Trading.
Some other points to consider is:-
1) Consolidated before breakout for good 4-5 weeks.
2) Volume was gaining while consolidating.
3) Today's Closing with high volume shows some good interest of buyers.
Weekly chart for the reference:-
I hope it will help someone in the community to understand.
Keep an eye ladies and gentleman.
Cheers and Happy Trading.
Nota
I hope everyone enjoyed this trade. It already gave us a move of 12% in 3 days.Cheers folks
Penafian
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