HP ADHESIVES LTDДлинная
HPAL - At Support - Pullback Trade
I identified this stock as a probable candidate for a breakout trade (Refer to the previous post linked here)
And we did see a breakout and run up to 540-550 levels.
Now the stock has come back to the breakout level, the previous resistance area which now would serve as a support area( 455-463)
and this week a hammer-like candle is also formed in the support area, portraying a good opportunity for a pullback trade.
The structure of the stock is still very positive and this could be a great risk to reward swing to positional trade.
The initial target is recent highs i.e. 540-550 and the further target is around 600 levels.
Close below 450 would negate the trade.
And we did see a breakout and run up to 540-550 levels.
Now the stock has come back to the breakout level, the previous resistance area which now would serve as a support area( 455-463)
and this week a hammer-like candle is also formed in the support area, portraying a good opportunity for a pullback trade.
The structure of the stock is still very positive and this could be a great risk to reward swing to positional trade.
The initial target is recent highs i.e. 540-550 and the further target is around 600 levels.
Close below 450 would negate the trade.
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.