SWING IDEA - SUPRAJIT ENG
Updated
Suprajit Engineering, renowned for its excellence in automotive cable manufacturing, stands as a stalwart in the industry, poised for potential growth and value appreciation. Let's delve into the technical factors guiding this promising swing trading opportunity.
Reasons are listed below :
Target - 475 // 540
StopLoss - weekly close below 380
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 :
- A notable breakout has occurred, as the stock successfully breaches a symmetrical triangle pattern.
- A robust bullish Marubozu candle graces the weekly timeframe, signifying significant buying momentum and potential continuation of the uptrend.
- Notably, the breakout candle engulfs the preceding seven weekly candles, marking a decisive shift in market sentiment.
- The stock finds support at the 50-day exponential moving average (EMA) on the weekly timeframe, reinforcing the bullish bias and providing a solid foundation for further upward movement.
- Accompanying this breakout is an uptick in trading volumes, indicating heightened investor interest and participation in the stock.
Target - 475 // 540
StopLoss - weekly close below 380
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
price made a high of 7%+ from our buying priceNote
Price retraced and is now bouncing backNote
Weekly close above 440 will trigger some upside till then holdNote
momentum is building up, can add some quantityTrade closed: target reached
1st target achieved : 17%++Note
made a high of 22%, HOLD!Note
we are close to our 2nd targetTrade closed: target reached
2nd target achieved : 28%++Note
all time high weekly closeNote
Achieved 51%++
Disclaimer
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