SWING IDEA - SAINT GOBAIN
Strong breakout and a retest is on going
previously 111 levels acted as a strong resistance and now it is broken and is acting like a support
50EMA support on daily TF
0.61% Fibonacci support
SAINTGOBAIN trade ideas
SWING IDEA - SAINTGOBAINALL TIME HIGH !!
The stock price breached 'all the high' mark. The momentum seems to be strong. We can see a potential up move in SAINT GOBAIN .
Reasons are stated below :
Daily candle closed above all the high.
Price broke out after a consolidation phase of 4months.
Formed a marabozu candle on weekly timeframe.
Price is above 50 and 200EMA.
Higher-Highs are being made i.e stock is in uptrend.
Target - 152 // 180 (these are derived from Fibonacci extension tool)
StopLoss - weekly close below 119
Saint Gobain- Glass-ic BO?the counter needs to close above 112 to start its run. the VCP formation is almost done.
SAINT GOBAIN - BreakoutBSE:SAINTGOBAIN clearly given a breakout from the supply zone.
As it gave a strong close from the supply zone, one can target the over head supply zone now.
