Godfrey Phillips Possible Breakout
Updated
The idea here is about Godfrey Phillips:
Godfrey Phillips India Ltd. operates as a holding company. It engages in the manufacture and marketing of tobacco related products. The firm operates through the following segments: Cigarette, Tobacco and Related Products and Retail and Related Products. Its cigarette brands include Marlboro, Red & White, Cavanders, Four Square, Stellar, and North Pole and Tipper.
My view is bullish short term(Swing trade) for the below observed technical factors.
Points as per TA on a Weekly Chart:
1.Contracting or Symmetrical Triangle formation on a weekly chart as per below:
2. Double Bottom formation on a weekly chart as per below:
3. Possible Bearish Gartley harmonic pattern in progress at the time of publishing as per below:
4. Ichimoku cloud Senkou Span A support established on weekly chart as per below:
5. Support established on 20 EMA & trading way above 200 EMA on a weekly chart as per below:
6. Trading above 20 & 200 EMA on daily chart.
7. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily, weekly & monthly chart is Strong for an upward momentum at the time of publishing.
8. RSI is at 52.44 on a weekly Chart and 53.73 on daily chart at the time of publishing.
9. MACD above signal line on weekly & daily chart.
10. Hull Moving average and other moving averages on a daily,weekly & monthly chart is a strong buy.
11. ADX (Average directional index ) trend strength is at 10.69 on a weekly and 8.70 on a daily chart which indicates a absent or weak trend ( ADX between 0-25 is a Absent or weak trend).
Projected Target: provided in the chart.
Stop Loss: Provided in the chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis.
Do leave your valuable feedback & comments for any improvisations.
Cheers.
Godfrey Phillips India Ltd. operates as a holding company. It engages in the manufacture and marketing of tobacco related products. The firm operates through the following segments: Cigarette, Tobacco and Related Products and Retail and Related Products. Its cigarette brands include Marlboro, Red & White, Cavanders, Four Square, Stellar, and North Pole and Tipper.
My view is bullish short term(Swing trade) for the below observed technical factors.
Points as per TA on a Weekly Chart:
1.Contracting or Symmetrical Triangle formation on a weekly chart as per below:
2. Double Bottom formation on a weekly chart as per below:
3. Possible Bearish Gartley harmonic pattern in progress at the time of publishing as per below:
4. Ichimoku cloud Senkou Span A support established on weekly chart as per below:
5. Support established on 20 EMA & trading way above 200 EMA on a weekly chart as per below:
6. Trading above 20 & 200 EMA on daily chart.
7. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily, weekly & monthly chart is Strong for an upward momentum at the time of publishing.
8. RSI is at 52.44 on a weekly Chart and 53.73 on daily chart at the time of publishing.
9. MACD above signal line on weekly & daily chart.
10. Hull Moving average and other moving averages on a daily,weekly & monthly chart is a strong buy.
11. ADX (Average directional index ) trend strength is at 10.69 on a weekly and 8.70 on a daily chart which indicates a absent or weak trend ( ADX between 0-25 is a Absent or weak trend).
Projected Target: provided in the chart.
Stop Loss: Provided in the chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
Do you like my TA & ideas!!
Want to keep yourself updated with current market action? Then don’t forget boost & to subscribe for more analysis.
Do leave your valuable feedback & comments for any improvisations.
Cheers.
Trade active
Target Profit : 12.23% (141.35) as per chart
: 16.61% total ( 192.00) if the trade was still active after target limit.
Congrats.
Double bottom Neckline broken and retesting in progress. Keep it under radar.
Note
Contracting Triangle Target Achieved.
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