52 week highs and all time highs strategy

An interesting display on Daily timeframe charts of TVS Motors and FIEM Industries:

• TVS Motors is one of Fiems top clients.
• TVS has reversed from a H&S pattern and crossed the right shoulder, making it a very bullish pattern and primed for an upmove. As it can be seen (yellow circle), a shakeout also took place.
• Similarly, Fiem has seems to be reversing from a H&S pattern while giving a similar shakeout (yellow circle).
• Fiem has also formed a Positive RSI divergence (pink line).
• When both the Monthly charts are put together, we can see a very high correlation between both TVS and Fiem. the correlation currently stands at 0.88, with Fiem generally lagging, but following TVS price action.

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