SWING IDEA - COFORGE
Updated
In the ever-evolving tapestry of stock markets, CoForge has emerged as a compelling prospect, hinting at the possibility of a promising rally. The technical landscape paints an intriguing picture, suggesting favorable conditions for a potential swing trade.
Reasons are listed below :
Target : 8404
Stoploss : weekly close below 5987
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.
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Reasons are listed below :
- CoForge has undergone multiple tests within the 5800-5900 zone, breaking through and retesting this critical range. The current attempt to resume the upside move indicates a resilient upward momentum.
- Notably, CoForge is supported by the 0.382 Fibonacci retracement level, adding a robust layer of support and fortifying the potential for an upward trajectory.
- CoForge consistently forms higher highs, a testament to a sustained uptrend and indicative of positive market sentiment.
- Trading above both the 50 and 200 exponential moving averages (EMA), CoForge maintains the integrity of its trend, providing confidence in the continuation of the upward movement.
- The presence of a bullish marubozu on both daily and weekly timeframes adds a bullish tone to the technical outlook, further reinforcing the potential for a positive price action.
Target : 8404
Stoploss : weekly close below 5987
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
trend looks intact, we can add some quantity.Trade closed: stop reached
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