SWING IDEA - AVANTI FEEDSAvanti Feeds , a leading manufacturer of shrimp feed and prawn processor, is showing technical indicators that suggest a potential swing trading opportunity.
Reasons are listed below :
Multiple Tests at 600-650 Zone : The 600-650 level has been tested multiple times, indicating it as a significant resistance zone. The price is now attempting to break through this level, suggesting strong bullish momentum.
Symmetrical Triangle Pattern Breakout : The stock is breaking out of a symmetrical triangle pattern, a bullish continuation pattern indicating potential upward movement.
Strong Bullish Engulfing Candle on Weekly Timeframe : The formation of a bullish engulfing candle on the weekly chart indicates strong buying pressure and suggests potential for further upward movement.
50 and 200 EMA Support on Weekly Timeframe : The stock is finding support at both the 50-week and 200-week exponential moving averages (EMA), reinforcing the overall bullish sentiment and providing strong support levels.
Break of Consolidation Zone of 5+ Years : Avanti Feeds is breaking out of a long consolidation phase that lasted over 5 years, signaling a potential new bullish trend.
Spike in Volumes : A noticeable increase in trading volumes confirms the strength of the price move, indicating strong investor interest and participation in the current trend.
target - 770 // 900 // 975
Stoploss - weekly close below 485
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