Steel sector cycle + Uptrend + 50% VCP
Strenght
1) Approach breakout
2) Stand above Uptrend line
2) Steel counter Super_Cycle (1-2 years profit trend), 3Q and 4Q FY20 show a HUGE profit.
3) Price stand up MA 10
Weakness
1) Immature VCP pattern, Contraction more than 20% during upward. It is defined as Normal contraction when rising sharply.
2) Below MA 20 and MA 30
Strategy
Cut loss on 0.39, potential loss = 7%
1) Approach breakout
2) Stand above Uptrend line
2) Steel counter Super_Cycle (1-2 years profit trend), 3Q and 4Q FY20 show a HUGE profit.
3) Price stand up MA 10
Weakness
1) Immature VCP pattern, Contraction more than 20% during upward. It is defined as Normal contraction when rising sharply.
2) Below MA 20 and MA 30
Strategy
Cut loss on 0.39, potential loss = 7%
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.