PRECWIRE - Multiyear Breakout - Swing TradeThe analysis is done on weekly TF hence price may take few weeks to few months in order to reach the targets.
Trade setup is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study & follow risk management before entering into any trade
Checkout my other ideas to understand how one can earn from stock markets with simple trade setups. Feel Free to comment below this or connect with me for any query or suggestion regarding this stock or Price Action Analysis.
PRECWIRE trade ideas
Long Setup in Precision Wires India- WyckoffThe chart is under accumulation for long time. It is typical wyckoff accumulation and right now on verge of breakout. Stop loss: 190.
The sector should benefit from the demand of dc motors and copper wires which are extensively used in electric vehicle.
Disclaimer: The stock/index/currency discussed do not constitute Investment/trading advise and is merely an effort towards enhancing learning, knowledge and book keeping. Kindly do your own due diligence and/or consult investment advisor before making any investment/trading decisions
Reverse Head and Shoulder Pattern and trend line breakout Stock Analysis: Precision Wire has broken trend line and formed reverse head and shoulder pattern. Ideal buy area marked on the chart as long as price holds the zone once can look for conservative entry with Expected target marked on the chart as per fib and head and shoulder pattern rule.
Happy Investing.