SWING IDEA - APOLLO TYRE
Updated
Apollo Tyres, a leading tyre manufacturer, is showing technical indicators that suggest a promising swing trading opportunity.
Reasons are listed below :
Target - 630 // 670
Stoploss - daily close below 490
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 540-560 Resistance Zone Breakout: The 540-560 level has been a significant resistance zone. The price is now breaking out above this crucial zone, indicating strong bullish momentum.
- Bullish Marubozu Candle on Daily Timeframe: The recent formation of a bullish marubozu candle on the daily chart indicates strong buying pressure and suggests potential for further upward movement.
- Breaking 5-Month Consolidation: The stock is breaking out of a consolidation phase that lasted over 5 months, signaling a potential new bullish trend.
- Higher Highs: The stock is consistently making higher highs, indicating a strong upward trend.
- Trading Near All-Time High: The stock is trading near its all-time high, suggesting strong market confidence and potential for further gains.
- Gradual Increase in Volumes: A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
- Trading Above 50 and 200 EMA: The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
Target - 630 // 670
Stoploss - daily close below 490
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
Consolidating, hold!Note
BREAKING OUT, accumulate more!Note
hold!Note
near SL, cautiousTrade closed: stop reached
stoploss hit! 10%
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