GRP LTD Double Bottom Breakout
The idea here is about GRP LTD:
GRP Ltd is engaged in the production of reclaim rubber from scrap of whole tyres, tread peelings, natural rubber tubes, butyl tubes, molded rubber products for different applications in both, tyre and non tyre rubber products..
1. Broken out of Ascending Triangle, Double bottom & retesting of support & neck level in progress at the time of publishing.
2. Trading above 20 & 200 EMA on daily chart.
3. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily chart is Strong for an upward momentum.
4. RSI is at 70.46 on a Daily Chart at the time of publishing.
5. MACD Way above signal line on daily chart.
6. Hull Moving & other moving average is a strong Buy on Daily, Weekly & monthly chart.
7. Wait for retest completion for long entry. However, keep in watch list for the week & alert for price momentum.
Projected targets as per Ascending triangle & Double bottom provided in the chart.
Stop Loss: provided in 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”.
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Cheers.
GRP Ltd is engaged in the production of reclaim rubber from scrap of whole tyres, tread peelings, natural rubber tubes, butyl tubes, molded rubber products for different applications in both, tyre and non tyre rubber products..
1. Broken out of Ascending Triangle, Double bottom & retesting of support & neck level in progress at the time of publishing.
2. Trading above 20 & 200 EMA on daily chart.
3. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily chart is Strong for an upward momentum.
4. RSI is at 70.46 on a Daily Chart at the time of publishing.
5. MACD Way above signal line on daily chart.
6. Hull Moving & other moving average is a strong Buy on Daily, Weekly & monthly chart.
7. Wait for retest completion for long entry. However, keep in watch list for the week & alert for price momentum.
Projected targets as per Ascending triangle & Double bottom provided in the chart.
Stop Loss: provided in 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.
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