SW Solar, Trendline Breakout. Risky Proposition!!
🔍Stock Analysis: SWSOLAR (Sterling and Wilson Renewable)
Entry & Stop Loss (SL):
🟢Entry: ₹478.00
🔴Stop Loss (SL): ₹402.10 (on a closing basis)
📊Targets:
T1: ₹530.90
T2: ₹608.05
T3: ₹639.00
Positional Long-Term Target: ₹761.80 - ₹790.00
All-Time High (ATH): ₹830.20
Setup Overview:
Trend: Downtrend. Now showing signs of a trendline breakout.
Moving Average Position: Trading below the 50 and 200 DMA
Volume: Huge volume spike today, signalling possible accumulation
Earnings: Posted good results today
Risk Considerations:
Risk Level: High
Counter-trend trade with the stock still in a downtrend.
Below 50 DMA and 200 DMA, indicating overall bearish sentiment.
Reasons for Risk Level:
The stock is currently against the primary trend (downtrend).
Significant resistance levels need to be broken for sustained upward movement.
Notes:
While today's huge volume and positive results are encouraging, remember this is a risky bet as we are trading against the trend.
Entry requires patience and discipline, and SL must be strictly adhered to on a closing basis.
🛑Disclaimer:
This analysis is for educational purposes only. Trading involves risks, and you should consult your financial advisor before making any trades.
Entry & Stop Loss (SL):
🟢Entry: ₹478.00
🔴Stop Loss (SL): ₹402.10 (on a closing basis)
📊Targets:
T1: ₹530.90
T2: ₹608.05
T3: ₹639.00
Positional Long-Term Target: ₹761.80 - ₹790.00
All-Time High (ATH): ₹830.20
Setup Overview:
Trend: Downtrend. Now showing signs of a trendline breakout.
Moving Average Position: Trading below the 50 and 200 DMA
Volume: Huge volume spike today, signalling possible accumulation
Earnings: Posted good results today
Risk Considerations:
Risk Level: High
Counter-trend trade with the stock still in a downtrend.
Below 50 DMA and 200 DMA, indicating overall bearish sentiment.
Reasons for Risk Level:
The stock is currently against the primary trend (downtrend).
Significant resistance levels need to be broken for sustained upward movement.
Notes:
While today's huge volume and positive results are encouraging, remember this is a risky bet as we are trading against the trend.
Entry requires patience and discipline, and SL must be strictly adhered to on a closing basis.
🛑Disclaimer:
This analysis is for educational purposes only. Trading involves risks, and you should consult your financial advisor before making any trades.
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