it can be clearly seen that the script is struggling at 1.272 retracement level since last 3 months at the price 434.80 to give a monthly close above it and not succeeding. But also each month a higher wick is making in the process. Also schiff pitchfork 0.5 retracement line has become a hard obstacle to breakout since last 4 months , here it is also not win over but also not price going downward with a higher speed rather it is making a higher low. This month this line coming across around 449 level. script has already tasted the level and has returned from 1.414 retracement level with a higher speed than its usual speed. Still if we look at the opening of the month and close of the week it has opened above 1.272 level and also survived to close above the 1.272 level on weekly basis. if we look at the moving averages 50 day ema is coming around 435.
So, my conclusion is bullish for the stock and stoploss is very very strict at 434. It might be a tougher job might I will have to buy it several times this week but anyway my move will be stay long above 434 for target 449 and exit at 434 this coming week.
So, my conclusion is bullish for the stock and stoploss is very very strict at 434. It might be a tougher job might I will have to buy it several times this week but anyway my move will be stay long above 434 for target 449 and exit at 434 this coming week.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.