ADX: MULTIPLY - Good Recovery, Corrections zone, Trade PlanThe stocks MULTIPLY bounced from a major resistance with bullish candles and consecutive green closing. We also observed bullish divergences in the past month.
Currently the price is in between a resistance and support zones. We saw a red candle closing today which can be a good sign. For a sustained bulls run, it is important that the price correct itself and spend some time here.
The trade plan is to enter just above the current resistance zone. Keep the stop loss at the major resistance. An earlier entry may be taken but might be risky. In this early entry keep the stop loss below the current support zone. It is suggested to keep booking profits along the bull run for the current stock.
Trade Plan:
Potential Entry: 1.91
Stop Loss: 1.56
Take Profit: 2.30
