COLPAL Long opportunity
COLPALHello all!
Colpal has been moving in an expanding channel and taking support from the lower channel trendline since May 2016. It's now back near it which makes it a good opportunity to go long.
There are a few other factors that strengthen my conviction of taking this trade
-> Presence of 200 Week EMA
-> Presence of strong demand zone
-> Stock is between 50 - 61.8 % fib zone (Golden
zone)
Risk-averse traders can wait till trendline 1 is broken. Aggressive ones can enter as soon as it touches 200 week EMA as the stop-loss will be very small!
*NOT A CALL*
HAPPY TRADING!!
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