HUBCO - On weekly candles chart, is posting very large red candle so far. Such huge candle indicates dumping in big numbers. I'm inclined to refrain from buying till it touches Buy2 price close to 113. If it crosses key support level, then I'm out by initiating Sell through Stop Loss. Then I'll wait to buy it once it touches yellow lines.
I also add that RSI momentum indicator indicates Bears are in control and still there is further room to go bearish.
TPs have been set at key levels where market tend to book profit after which is small dip is always seen.
LONG Buy Call
Buy 1 : 120.34
Buy 2 : 113.82
SL: 104.41
TP1: 155.00
TP2: 165.00
TP3: 185.00
I also add that RSI momentum indicator indicates Bears are in control and still there is further room to go bearish.
TPs have been set at key levels where market tend to book profit after which is small dip is always seen.
LONG Buy Call
Buy 1 : 120.34
Buy 2 : 113.82
SL: 104.41
TP1: 155.00
TP2: 165.00
TP3: 185.00
Note
Update on 06-Nov-2024 : Price has already tested trend reversal zone of 104 and went to 93 even. Now price is back at 104 level but for me still it is not attractive price to buy especially once there are other fast performing SCRIPTS available in Cement and Fertilizer sectors. Therefore, I'll wait for it to drop to 81~84 zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.