52 week highs and all time highs strategy

UPDATE: on Fiem Industries.

• Identifying correlation between TVS Motors and Fiem Inds worked well, Fiem moving from 1570 odd to 1800+.

Wanted to highlight multiple patterns at play currently in Fiem Inds (Weekly Chart), which are helping it setup for a nice longer term upmove.

• Fiem broke out of a Bullish Multi year Cup n Handle pattern (2016-2022) in July 2022. The Handle took support at 0.5 Fibo levels.
• It then formed a Bearish Head & shoulder pattern. However it gave a Shakeout move (yellow circle) and reversed, turning into a Bullish setup above the Right Shoulder.
• One can see a Positive RSI divergence as well (light blue trendline), mostly indicating a failure of the H&S pattern.
• This reversal has led it to possibly form a Cup and Handle pattern from Nov 2022, with the Handle again taking support at 0.5 Fibo levels ( and retesting the Right shoulder).
• One should also notice the drop in volumes when the stock has retraced while forming both Handles.

Good times possibly lie ahead for the stock, assuming its factoring in all the bad news around the 2W industry.