Long

Relaxo Break Out and Retest

Updated

Relaxo Footwears have broken out of the Channel/Triangle pattern and has retested the breakout area. Entered long with strict stop loss. If going further below, better to exit without a second thought.

Possible target just below a recent resistance area.

Comment

Relaxo seems to have held the support. A good green candle formed.

Comment

The trendline with the higher slope has been broken downwards today. Let's see if Relaxo can take support on the upper line of the channel.

Comment

Relaxo not giving a clear clue about the next move. Even while the market is highly bullish, Relaxo is very sluggish. Holding the support line. There's still hope for a positive move.

Comment

Held the support really well. Jumped up with a good bullish candle.

Trade closed: target reached

Hit the target right after market opening

IDTrader_IN

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