GMDCLTD has recently ended its correction phase and reversed. It has retraced till 0.618 level and has got a small rejection. 0.618 is last line of defence for sellers in many cases. Above 0.618 level a strong momentum likely to come.
Risk will be previous swing low after breakout.
As per price structure 430 is the last swing high. Breakout will start a strong momentum towards ATH and above that it is likely to test 678 as per Fib extension.
So put an alert to track this for your learning.
Learning Part :-
A rise in price then a correction in a channel formation is good to buy on breakout.
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
Risk will be previous swing low after breakout.
As per price structure 430 is the last swing high. Breakout will start a strong momentum towards ATH and above that it is likely to test 678 as per Fib extension.
So put an alert to track this for your learning.
Learning Part :-
A rise in price then a correction in a channel formation is good to buy on breakout.
I am Not SEBI Registered
This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.