Let’s hunt for a potential mutli-bagger today. Have a look at the weekly chart of Unichem Labs featured below. There is a lot of symmetry and interesting price action at play here.
Price has reversed from the lower extreme. It would therefore not be unreasonable to expect a reversion to the mean or the centre blue line at Rs.230.
If the momentum is strong, we can expect price to bubble-up back to the other extreme or upper blue line. Let’s not talk about fancy targets now.
For those considering long trades, the stop loss should be at Rs.105.
No comments:
Post a Comment