A Fresh stage 2 Multiyear Flag breakout move.
Why I consider this attractive ?
1) The stock has broken out of a 3 year old consolidation zone - Flag Breakout. June 2021-Aug 2024
2) The stock as compressed for 2 months at the breakout level.
3) Overhead supply is very minimal.
4) Daily has broken out of the compression at Flag Breakout level, retested and given a good breakout again, indicating solid buyers strength.
Flag targets at about 5400.
Why I consider this attractive ?
1) The stock has broken out of a 3 year old consolidation zone - Flag Breakout. June 2021-Aug 2024
2) The stock as compressed for 2 months at the breakout level.
3) Overhead supply is very minimal.
4) Daily has broken out of the compression at Flag Breakout level, retested and given a good breakout again, indicating solid buyers strength.
Flag targets at about 5400.
Nota
The trade is still open as weekly 30 EMA is held well. The stock is consolidating in a channel, expecting it to reach channel top at 3400 approx.Nota
May consider a minimum gain exit and move capital to another counter as Breakout failure is seen here and the stock has decided to move in a channel rather ranging sideways 2668 - 3400
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.