Manali Petrochemicals Ltd - Volume Breakout

21 дек. 2023 г.

After the bull run, price retrenched to fib level at 38.20%. The fresh movement observed in stock, aptly supported by volume and moving average.
Stop Loss - Below support level ; Target 1 - Rs 109, Target 2 - ATH

Daily chart
9 months of consolidation, afterward symmetrical triangle breakout. The stock perfectly retested that level and uptrend continued.


Technical chart
From past 18 months, stock facing a strong resistance at 200 ema. Currently price closed above 200 ema with short average crossing over long average and supported by strong volume.


Thanks

Disclaimer: The information and publications are not meant to be, and do not constitute, financial, investment, trading or any other types of advice or recommendations.

11 янв.

Заметка

pause and resume with volume