BOSCH long opportunity
BOSCHLTDHello all!
Bosch has been stuck inside a channel since March 2015. It has now finally given a multi-year breakout on a weekly timeframe with explosive volumes. This I believe is a great opportunity for a positional long.
Apart from the pure price action, I have multiple other reasons for going long:
1) Support from both 50 week and 200 week EMA.
2) The stock has broken its nearest resistance as well.
Multi-year breakout coupled with the above two reasons form a strong confluence.
The Reward to Risk ratio also seems favorable.
Do let me know your thoughts on this!
*NOT A CALL*
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