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Laughingchartist

analysisAnalysis of Laurus Labs Ltd. Chart (Weekly Timeframe) 1. Channel Trend & Breakout Upward Channel: The chart shows a clear upward trend within a rising channel, starting from around mid-2022 and continuing into late 2024. Breakout: The price has just broken out of the upper boundary of the channel near the ₹500 level, suggesting potential bullish momentum. A breakout above a rising channel typically indicates that the stock may continue to rally in the short-to-medium term. Volume Confirmation: The breakout is supported by a significant spike in volume (11.09M), which confirms the strength behind this breakout. High volume during a breakout usually strengthens the case for sustained upward momentum. 2. Resistance Levels Next Resistance: The chart shows that the next major resistance level is around the ₹550-₹590 zone (marked on the chart), which was a previous support-turned-resistance in 2022. Potential Target: Since the stock has broken out of the channel, the immediate target could be the next resistance at around ₹590, a key psychological level. 3. Volume Analysis The recent volume surge (11.09M) during the breakout phase indicates strong buying interest. This is a bullish signal that supports the breakout. Sustained high volume could lead to further upside. Volume Trend: It’s crucial to monitor if this volume trend continues. If volumes start to decline, the breakout may lose momentum, and the stock could consolidate or retrace. 4. Moving Forward Short-term Target: The breakout suggests an upward move toward the ₹550-₹590 zone. Long-term Outlook: If the stock clears ₹590 convincingly, it could enter a new bullish phase and aim for levels above ₹600. However, failure to sustain above ₹500 could result in a retest of the lower support levels. 🚀 Laurus Labs (LAURUS) Breaks Out! Bullish Momentum Ahead? 🚀 📊 After months of consolidation, Laurus Labs Ltd has broken out of a rising channel on the weekly chart, hitting ₹506.70 today! 🔥 📈 Breakout Details: Trend: Upward channel breakout 💥 Next Resistance: ₹550-₹590 💡 Volume: Strong confirmation with a spike to 11.09M 🟢 💡 What’s Next? If momentum continues, the stock could rally towards ₹590 🏁 Watch out for volume to sustain! 🔍 Target: Short-term upside towards ₹550-₹590 🚀 👉 Are you ready for this potential run? 📈 Let’s discuss below! 👇
NSE:LAURUSLABSLong
by investigationofchart
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by CryptoCheck-
8
GBPJPY [1-3 weeks view]Short GBPJPY Entry: 136.810 SL: 138.680 Clean, Simple, Concise. That's how I like my charts. Price has been trending downwards. Despite price gapping lower and making a new low, price came back to cover the gap. This was to be expected as gaps are generally covered. This provided me for a re-entry to go with the trend. I currently see price forming sort of a flag pattern which is a continuation pattern. Should price break below I would add to my positions to compound the profits. Further, price is holding nicely below it's natural moving average. This trade has a very nice risk/reward profile.
by laughingchartist
5
AUDUSD [1-3days view]1st Short AUDUSD Entry: 0.71635 SL: 0.7215 TP: 0.7020 Short order was triggered yesterday after market pulled back to the descending trendline resistance (dotted line). Market however surpassed this line and seemed to be heading for a bullish breakout... However, it reacted just nicely below the resistance at 0.71852 (thick neon blue line) to form the right shoulder... despite the spike, my position was not taken out and I held onto it. Here we see that a head and shoulders patterned has formed. The right shoulder being classically lower than the left shoulder. Market is also now below 55 period EMA. Market then puked further making my position extremely profitable after one whole day of waiting. I moved my trailing stop lower to protect profits. My trade is now risk free and profitable. Will look to scale in to this trade when possible.
Short
by laughingchartist
EURUSD [1-3 weeks view] +Long with low conviction (+) Buy on dips above 1.119 Stop Loss: 1.110 Take Profit: 1.157 Weekly Market is testing descending wedge pattern support with 1.119/1.120 as a key support level. 21RSI is holding above 33.5% support level where price has been shown to react/bounce before (as indicated by arrows), however still below the 50% level. 1.119/1.120 key long term support also corresponds with long term pull back support line (in light blue) Daily 21 RSI reacted above ascending channel support with bullish divergence noted since mid May 2018. However do note also that it is still below the 50% level. Overall, this is a low conviction bullish trade as indicators have yet to confirm any bullish breakouts. The only thing that is clear is the strong support.
Long
by laughingchartist
Straits Times Index (STI) [1-3 weeks view] ++Long with good conviction (++) Buy on dips above 3020 Stop Loss: 2960 Take Profit: 3350 Weekly Price reacted above 2960. RSI also reacted above support where in the past price has bounced before. RSI also surpassed descending channel resistance. Daily Price and RSI shows a weak bullish divergence RSI also testing 50% level. 2960.00 is the key support level to hold. It has also been found as a fractal level multiple times. If market were to break below, we would see a much deeper drop towards the 2522 region. A drop towards the 2522 region is set to put Singapore's market in a recession. Overall a good conviction trade due to indicator breakout and price reacting on key support level. Risk/reward ratio is beautiful too! Cheers.
TVC:STILong
by laughingchartist