TASTY BITE AT IMP SUPPORTAnother stock, that came on the radar is Tasty BIte for a Positional Trade.
The stock made a low of 8050 in the last week of June 2022 and then rallied massively from there and made a High of 13700 in late August 2022.
That's a huge 70% return in just two months.
Usually when stock witnesses such a fast move it usually consolidates for a long time afterward.
Now the stock has been consolidating for the past 3 months in a 20% range i.e 11300- 13700.
There can be two types of trades that can take place:
1. Support Trade
2. Breakout Trade
Support Trade: Stock can be bought near the support level, which would offer a great risk-reward ratio, but at the same time,
Cons of Support Trade: your capital might get blocked for a long since we do not know how long it's gonna consolidate.
Breakout Trade: Keep the stock on the radar, Wait for a Breakout
Manage Your Risk as per your capacity
Cons of Breakout Trade here: You might miss the stock, as it gives huge swings and the risk-reward wouldn't be favorable by then.
Trade at your own risk
