Transurban about to break a long term resistance
Price ACTION - TCL is breaking a key resistance level reversing a downward swing back to previous highs.
4 hour chart
Condition - BReak of 13.81 with good volumes
Stock target - 14.31
Target 2 - 14.91
Target 3 - 15.63
Timeframe - 6- 8 Weeks
Stop Loss - Swing Low - 13.44
Pattern - Round Bottom
Potential - Can form a Cup & Handle if next resistance sends the stock on a slight correction
4 hour chart
Condition - BReak of 13.81 with good volumes
Stock target - 14.31
Target 2 - 14.91
Target 3 - 15.63
Timeframe - 6- 8 Weeks
Stop Loss - Swing Low - 13.44
Pattern - Round Bottom
Potential - Can form a Cup & Handle if next resistance sends the stock on a slight correction
Trade active
Stock has broken above 13.82. Entry madeNote
Trade active.. Expect a retracement back to support.Trade active
TCL inching towards T1 currently at 14.28Trade active
Trade update - Broke 14.32- Retraced to 13.78 below 13.82 to remove some weakhands and now on the journey to Target 2 which is 14.91
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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.