PCBL trade ideas
PCBL a good small cap.There are two possibilities for this stock.
1. Stock can have a trade breakout around 153 and if this comes out true breakout then stock can jump up to 15% to 35% upside direction i.e., 175 to 206.
2. Possibility two suggests that this stock is having swing movement shown by parallel channel in graph, having swing trade moments since April 2021.
The most possibility is of number 2, stock is just having its swing trade moments.
PCBL a good buy around these levelsA copy book sysmetrical triangle is attempting a breakout to trade in blue sky zone towards 175-80 in next 3-6months. Any opportunity in correction around 128-32 levels is a buying opportunity.
Consolidation in RSI also bottoming out with rising volumes signifies accumulation. Ease in raw material prices and good sentiments in auto sector making this auto ancillary rubber stock a good buy at given levels.
PCBL consolidation breakoutHi,
PCBL has consolidated for almost 1.5 years now in a range after a nice 4 bagger upmove since covid lows in 2020.
First target is calculated considering height of the box which comes to 200 levels.
2nd and 3rd target as per Fibonacci extension comes to 308 and 414 levels.
Stop loss below 110 levels.
The moving averages( trend lines on daily and weekly are nicely aligned indicating a strong move ahead )
The volume is also rising with rise in stock price.
On daily , weekly and monthly ADX is above 20 indicating that stock is ready to give a strong move.
Relative strength is also indicating stock is in strong hands and nice accumulation is done :)
Happy trading!
PCBL @138.6 BullishPCBL has made fantastic Cup and handle formation on weekly charts and on daily can see inverted H&S pattern.
look for the stock as per fibo levels can move upto 167, 200 in short to medium term.
volumes are stable.
RSI above 60
can go long
Disclaimer: its not a recommendation just for educational purpose.