SWING IDEA - INTELLECT DESIGN ARENA
Updated
Intellect Design Arena, a leading financial technology company, presents a potential swing trading opportunity based on several technical indicators.
Reasons are listed below:
Target - 1100 // 1200
Stoploss - weekly close below 835
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below:
- Breakthrough and Retest of Resistance Zone (850-880): The 850-880 range was a significant resistance zone. The price has broken through this level and is now retesting it, indicating a potential continuation of the upward trend.
- Bullish Hammer on Weekly Timeframe: The recent formation of a bullish hammer candle on the weekly chart suggests a potential reversal from the downtrend, indicating strong buying pressure at lower levels.
- 0.382 Fibonacci Support: The price is finding support at the 0.382 Fibonacci retracement level, a key support zone that suggests the potential for a bounce and continuation of the uptrend.
- 50 EMA Support on Weekly Timeframe: The stock is trading around the 50-week exponential moving average, providing strong support and indicating a positive long-term trend.
- Higher Highs Formation: The stock has been consistently making higher highs, indicating a sustained uptrend and ongoing bullish sentiment.
- Gradual Increase in Volumes: There is a noticeable gradual increase in trading volumes, which often confirms the strength of the price move and indicates growing investor interest.
Target - 1100 // 1200
Stoploss - weekly close below 835
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
formed a bullish hammer, can add quantityNote
made a high of 13%++Trade closed: target reached
1st target done : 21%++Note
made new high : 24%++
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