Trendline Brekaout
Here is a Government Company. now started moving after making a base in a weekly time frame.
Its been in the range Since 2017 and has also passed the Covid Crash and even then respected the same levels. It started its rally back then in 2014 and continued till 2019 and since then it is consolidating at the same level.
It has started moving after taking its previous support i.e. 200, But was not giving breakout of its short term downtrend line since 2019. Now it has given a breakout with a bullish candle and hence can be traded.
Entry - At the same level i.e. 230
Stop Loss - At the last swing i.e. 210
Reward - there is ling term resistance at 270. (One can check the price action there as it may give a breakout this time.)
#keep learning
*This is a swing trade and can take 1 month to 3 month time.
Its been in the range Since 2017 and has also passed the Covid Crash and even then respected the same levels. It started its rally back then in 2014 and continued till 2019 and since then it is consolidating at the same level.
It has started moving after taking its previous support i.e. 200, But was not giving breakout of its short term downtrend line since 2019. Now it has given a breakout with a bullish candle and hence can be traded.
Entry - At the same level i.e. 230
Stop Loss - At the last swing i.e. 210
Reward - there is ling term resistance at 270. (One can check the price action there as it may give a breakout this time.)
#keep learning
*This is a swing trade and can take 1 month to 3 month time.
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