AMETEK, Inc.Long
AME potential Buy setup
Reasons for bullish bias:
- Price at a strong support level
- Price retraced from 0.786 fib level and it broke the 0.5 resistance level as well
- Strong bullish weekly closing at a rising trendline
- Bullish divergence
Here are the recommended trading levels:
Entry Level(CMP): 163.28
Stop Loss Level: 135.60
Take Profit Level 1: 185.24
Take Profit Level 2: Open
Note: An SL at 145.58 can also be placed as it's a strong support zone but the trend structure will only break if 135.60 breaks, partial profit at 175.88 can also be taken.
- Price at a strong support level
- Price retraced from 0.786 fib level and it broke the 0.5 resistance level as well
- Strong bullish weekly closing at a rising trendline
- Bullish divergence
Here are the recommended trading levels:
Entry Level(CMP): 163.28
Stop Loss Level: 135.60
Take Profit Level 1: 185.24
Take Profit Level 2: Open
Note: An SL at 145.58 can also be placed as it's a strong support zone but the trend structure will only break if 135.60 breaks, partial profit at 175.88 can also be taken.
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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.
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.