BULLISH VIEW IN ROH LTD- Continuation pattern
Bullish Pole - Flag (Up flag) pattern is formed which indicates continuation of bullish trend.
Also it has closed above the resistance level and its closed at life time high level which is supported by huge volumes
In coming months we can see much higher levels in ROH till 427 which is Fibo 1 as well as flag target and it can be extended upto 496 (Fibo 2)
Buy position can be initiated at retracement till 315-320 levels .
Target 1 : 427 (10-12 months)
Target 2 : 496 (15-18 months)
Risk reward :
For target 1 = 1:1.7
For target 2 = 1:2.8
Bullish Pole - Flag (Up flag) pattern is formed which indicates continuation of bullish trend.
Also it has closed above the resistance level and its closed at life time high level which is supported by huge volumes
In coming months we can see much higher levels in ROH till 427 which is Fibo 1 as well as flag target and it can be extended upto 496 (Fibo 2)
Buy position can be initiated at retracement till 315-320 levels .
Target 1 : 427 (10-12 months)
Target 2 : 496 (15-18 months)
Risk reward :
For target 1 = 1:1.7
For target 2 = 1:2.8