Trend line Breakout
Updated
Stock price has broken out from the downward sloping trend line on the weekly chart.
Stock price has broken out on the daily chart where it is trading at highest level since may 2022.
Primary trend of Stock is positive as it is trading above its 50,100, and 200 day moving averages.
plus DI is trading above minus DI while ADX line is placed above 25 and started rising. Indicating stock price is likely to gather momentum in the current uptrend.
Momentum oscillators like RSI and Mf1 are in rising mode and placed above 60 on the weekly chart, indicating strength in the current uptrend.
Considering the Technical evidences discussed above, we recommend buying Cochin shipyard at cmp of 364 tgt 405/420
Stock price has broken out on the daily chart where it is trading at highest level since may 2022.
Primary trend of Stock is positive as it is trading above its 50,100, and 200 day moving averages.
plus DI is trading above minus DI while ADX line is placed above 25 and started rising. Indicating stock price is likely to gather momentum in the current uptrend.
Momentum oscillators like RSI and Mf1 are in rising mode and placed above 60 on the weekly chart, indicating strength in the current uptrend.
Considering the Technical evidences discussed above, we recommend buying Cochin shipyard at cmp of 364 tgt 405/420
Note
394 HIGHNote
405 first tgt achieve
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