Bata - trendline breakout and retest
Updated
Bata broke out of the highlighted trendline and had a sharp ramp
Decline last few days saw a bounce off the same trendline
Next week if we get close to the trendline worth trying some narrow SL longs around the trendline, 1745-50
Decline last few days saw a bounce off the same trendline
Next week if we get close to the trendline worth trying some narrow SL longs around the trendline, 1745-50
Trade closed: target reached
Stock rallied from the level initiated, though it did not exactly go to the trendline but did hit nearby levels 1755 and 1760 twice. Enough for now. I would take it off and wait for a dip to see if we get better levelsNote
Stock corrected by about 50 bucks post exit. Reentry can be looked at a=in the 1806-1819 zone (50-61.8% retracement of prior upmove). Shallow trades but that is what the mkt is
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