KPR MILLS
Review/update -580
It seems that chart has changed this week. It seems that it is showing upmove after its correction of 38% retracement of whole rise from covid-lows.
Is showing early signs of Stage 2 and today closed above first trading range.
Need to keep a close watch.
Is it finally out of woods- well difficult to say. It showed similar signs in August also but then re-strated its downward move.
So we would be cautious – daily/weekly MACDs are in buy zone but monthly MACD is yet to turn.
Weekly Chart
If we were to ride this stock, we would take first entry next week ( may be 10% of our intended investment) and then slowly build up our position after it closes above next resistance levels( immediate resistances show in blue line) . Will keep adding as it keeps moving up .
Would start exitting if it starts breaking below the trading ranges ( resistance levels)
Disclaimer :This post is just for learning few methods of price-patterns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors.
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