OLECTRA at tilted support
The stock is currently trading near tilted support at 1250.
If it breaks the recent low of 1240, the target on the sell side is likely to be 1050.
It looks bullish only if it moves above 1700 or breaks out of the trendline based on the present available data.
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!
If it breaks the recent low of 1240, the target on the sell side is likely to be 1050.
It looks bullish only if it moves above 1700 or breaks out of the trendline based on the present available data.
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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