SUPREMEIND trade ideas
SUPREME INDUSTRIES - Lifetime breakout - Weekly ChartThis analysis is purely based on price action.
(This stock was analyzed previously on Monthly Time Frame, whose link is also provided here. Do check it. )
Analysis is done on Weekly Time Frame.
Trade Strategy is given in image itself.
Don't run after the price.
*Trade at your own risk & money management. Always do your own study before entering into any trade*
Feel free to comment for any query or suggestion.
Multi-year Breakout in Supreme IndustriesThis is about positional trade opportunity (monthly or weekly) in Supreme Industries (a leader in plastic products sector).
As can be seen in monthly or weekly charts, 1476 level is acting as a multi-year resistance and the stock price has again come near that level. It has tested that level multiple times, hence chances of its breaking are high.
If the stock price breaks that level with volume (preferably in monthly time-frame), stock may show some really good up-move in coming weeks.
Trading Strategy would be to enter above the high of the monthly candle that breaks & closes above that resistance level and SL can be take accordingly (either below the low of the breakout candle or below the recent swing support).
Another strategy to enter the stock (if the breakout candle goes too high so that entering at that high would give bad Risk:Reward) would be to wait for retesting of the 1476 level and enter at the signs of reversal (upwards). Since it would be a multi-year breakout, if it breaks that level, it should retest that level in sometime shortly.
Target of this stock can be anywhere near 30% to 50% of up-move on that timeframe.
This is purely as per the study of weekly and monthly chart study of the stock and technical analysis.
SUPREME INDUSTRIESAS YOU CAN SEE ON WEEKLY CHARTS, IT HAS CLOSED ABOVE ONE OF THE RESISTANCES OF 1410.....
IF IT DOES SUSTAIN HERE, THEN IT CAN RIDE UPTO 1450 WITH STOP LOSS OF 1410.
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Hi all,
Its pleasure to have you all here.
I have started putting these charts as a contribution from my side to all people who are new to business, as I had to struggle a lot without any sources at disposal. So please consider this a just small contribution from my side.
Few Honest Disclosures:
1. Any idea shared is my personal view, its not a recommendation, neither any kind of paid propaganda, so please
do your bit of research.
2. Ideas shared does not mean that I trade all or have position in them, this is just a helping hand to all.
3. I expect no comments or like nor any negativity, as I said its just a small helping hand from my side, please plan your risk and trade as per your capacity.
4. To trade in Cash, options or futures is your sole choice and your own risk
5. I am no expert in Tech Indicators, I believe in support resistance and trendline theory, you may use this as a supplement theory for better results.
6. I work for my own living, this is a hobby which I do sincerely to help anyone who might come across my charts.
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SUPREMEIND seems bullishProbability is a relatively less so i reduce my risk.
Please do your own research before trading or investing.
Recovery after Head and Shoulder breakdown in Supreme IndRecovery after Head and Shoulder breakdown in Supreme Ind
Above 973 the stock should make a high until 1025/1145.
Supremeind - A Symmetrical Consolidation Breakout.Supremeind seems to be forming a Symmetrical Triangle Pattern consolidating post a move from 550-1500. As long as 50% Fib Retracement at 1000 holds..could possibly see an upside breakout in the short to medium term towards 1200 - 1350.
#SUPERMEIND - Downward Breakout- Invalid Symmetrical Triangle Downward Breakout- Invalid Symmetrical Triangle
1.There are not enough price crossings to fill the triangle, leaving white space predominating.
2.There are not enough price crossings of the triangle to suggest a reliable formation. Although prices touch
both trend lines several times, there is too much white space filling the center
of the formation.
3. Point E area is crucial now. It may decide trend but as its look like invalid pattern so expecting to fall down with spike.
4. Waiting to do short until confirmation.
Supreme Industries Positional buy" Margin trading is NOT recommended. Do your own analysis before initiate trade."
Buy Around 1095
Target 1150
Stop Loss 1100
Duration 5 Trading Days
