ULTRAMARBSE:ULTRAMAR
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
ULTRAMAR trade ideas
Resistance Breakout (Weekly TF) - ULTRAMARINEPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 4% profit (In my observation, I found that most of the stocks reached 3% to 4% on weekly basis)
Please consider these ideas for educational purposes.
Ultramarine pigments - positional longThis chart recently made 2 interesting chart patterns. Initially it made a head and shoulder pattern, neckline was broken and stock price went down. Now chart made completely reverse pattern that is inverse head and shoulder. Breakout came from its neckline and now price is cooling down to retest.
Initiate a buy around 255, aim for a target of 414. Keep a stop loss below 330.
All levels are on daily closing basis.