HBL Power
CMP 108
Have we started iii of 3 ? Well , we need to wait.
As of now, it has broken the trading range on weekly chart – but we need to see whether it closes above it on weekend and at least for next 1-2 weeks.
Also it has earby resistance of Fib level 61.8% retracement of recent decline,
There has been good volume also in last few days- daily /weekly MACD are in buy. Worry is on monthly MACD , that’s yet to show the signs of a buy signal.
Let’s keep a close watch. We’re having too many failed break-outs these days,hence need to be extra-cautious
Weekly Chart
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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