Tariq Glass is currently maintaining its support level at 98 for the past week, representing a 38.2% Fibonacci retracement from the 106 level. Additionally, the stock has reached the breakout level of a descending trend line, signaling a robust bullish breakout. Furthermore, it has surged above the EMA50 indicator in the ongoing session. Consideration of long positions is advisable within the range of 100-98. Following the breakout from the trend line, the initial target is positioned at 104, with a secondary target at 106. Conversely, in the event of a downside breakout, employing a stop-loss strategy at 95 is recommended to mitigate risk exposure.
Note
First target achievedTrade closed: target reached
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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.