SWING IDEA - EXCEL INDUSTRIESExcel Industries , known for its expertise in manufacturing specialty chemicals, is setting up for a possible swing trade with supporting technicals.
Reasons are listed below :
Breaking out 1600 Zone : The price has tested this level multiple times and is now set to potentially break through, signaling strength.
Trendline Breakout : A breakout following a period of consolidation at the higher end of the trendline suggests momentum building.
Highest Weekly Close Since 2019 : The recent price action reflects significant bullishness, closing at levels not seen in years.
Intact Trend : The formation of higher highs and lows indicates that the bullish trend remains solid.
Trading Above 50 and 200 EMA : The price action above these key moving averages on the weekly timeframe points to continued positive sentiment and support.
Target - 1920 // 2130
Stoploss - weekly close below 1425
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