FCEPL trade ideas
Bullish Flag / Pennant Pattern Formation appearing.
Bullish Flag / Pennant Pattern Formation appearing.
87 - 88 is the Breakout Level; but Important Resistance
lies around 90 - 92
Closing above 100 - 101 would trigger more positivity.
Crossing & Sustaining this level may expose new Highs
around 130.
However, it should not Break 73.
FCEPL*The price action is forming an ascending triangle, which is generally a bullish continuation pattern.
*The RSI at the bottom shows market momentum and potential overbought/oversold conditions.
*Bullish Strategy: Buy after a breakout above 93 , with targets at 111 and 117.
*Bearish Scenario: If the price fails to break out and falls below 75
it could invalidate the bullish pattern, leading to further downside.
Long FCEPLThis share has a great potential and good for investors.
Last year's full-year earnings were Rs 1.93 per share. This year, after 3 quarters, the earnings is Rs 2.63 per share. This is the massive increase, and probably it beats Rs 3 per share after 4th quarter. That it will have an increase of around 40%.
Technically it has broken weekly EMA 200 resistance.
Retesting done at month level
Monthly trend line broken
All targets given through yellow lines
FCEPL is BullishPrice was in a strong downtrend, however a matured bullish divergence led to the break of previous lower high, the bullish notion was further affirmed by the printing of a higher low. If bulls maintain pressure then we can expect a bullish reversal as per Dow theory. Targets are mentioned on the chart.