Tata Motors experienced a fake-out at its all-time high, approaching the psychological level of 1000, and has since seen a significant decline.
Currently, the stock is trading near a solid support level of 700, making it a good opportunity for long-term accumulation.
However, if the price breaks below 700, a target of 620 could be expected.
Bullish sentiment is only apparent above the level of 820.
For a successful breakout/breakdown, we should ideally see a strong respective timeframe candle on our chart to close —it’s crucial to use that timeframe.
Following the breakout/breakdown, the ideal entry point would be after a consecutive candle that breaks above/below the breakout/breakdown candle
As always, remember to do your own research before making any investment decisions!
Currently, the stock is trading near a solid support level of 700, making it a good opportunity for long-term accumulation.
However, if the price breaks below 700, a target of 620 could be expected.
Bullish sentiment is only apparent above the level of 820.
For a successful breakout/breakdown, we should ideally see a strong respective timeframe candle on our chart to close —it’s crucial to use that timeframe.
Following the breakout/breakdown, the ideal entry point would be after a consecutive candle that breaks above/below the breakout/breakdown candle
As always, remember to do your own research before making any investment decisions!
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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.