Buy Jet Airways at CMP 290 with a stop of 254 and Target of 370

29 ago 2018

JETAIRWAYS has been in downtrend every Jan 2018 and from the highs of 870 the price has crashed to around 260 levels. Recent news of delaying the result had an impact on the price and investors initially weren't that keen on buying the stock.

Looking at the recent trend and especially looking volume structure there is clear signs of the stock being accumulated, I've used Price Voulme Trend (PVT) which is given a clear indication of price action and accumulation in the stock.

The stock has closed above the downtrend line and now the stock it's trying to retest this trend line. I feel the trend has reversed and we can look bor -2.73% buying opportunity JETAIRWAYS

Close above 303 will also confirm a double bottom reversal, which will also confirm a minimum 50 points jump from 303. So considering all these pointers go Long.

"Know what you own, and know why you own it." - Peter Lynch