DABUR Long opportunity

14 apr 2022

DABUR

Stock -> Dabur

TimeFrame -> Weekly

Hello all!

Dabur has been traveling in a channel since May 2017. It is now again at the lower end of the trendline and thus it makes for a good opportunity to go long from here!

There are multiple other factors apart from the usual price action:
1) Stock is in its support zone.
2) Stock has taken a bounce off of its weekly 200 EMA.
3) Stock has bounced off of its golden Fibonacci zone (not shown here as that would make the chart too complicated).

The Reward to Risk ratio also seems to be good.

*NOT A CALL*