HGS primed for breakoutThe idea here is about HGS ( Hinduja Global Solutions).
Mentioned below are the points to be considered
Points as per TA on a Weekly Chart:
1. Crab Pattern Completed.
2. Cup formation under completion with today’s trading, wait for pull back & break above the current resistance as per chart.
3. Trading way above on 50, 20 & 200 EMA on weekly chart.
4. Resistance on Kumo cloud on a weekly chart & currently consolidating.
5. RSI is at 71.11 on a weekly Chart at the time of publishing.
6. MACD above signal line.
7. Hull Moving Average is a Buy Signal on Daily, weekly & monthly chart.
8. If Price breaks above the resistance then cup & handle formation in invalid.
Projected targets as per Crab pattern & cup and handle provided in the chart.
Stop Loss: provided on chart.
Disclaimer: “The above is an 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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