Bullish on SADBHAV ENGINEERINGThough the volumes are low, the weekly pattern is looking good once the breakout happens.
SADBHAV trade ideas
SADHBHAV @ 27.10 bouncing backSADHBHAV @ 27.10 bouncing back from 2006 support, its bouncing back from very long time support level not broken since 2006
Cup and handle and move upI had posted about Sadbhav on June 14, cup had formed but handle had not...now you have the classic cup and handle and move up...it is up 14% up today
Cup formationThis is how a classic cup forms....where the cup/candlesticks dip ( semicircle) the volumes reduce drastically and at the edges there is bloating of volume...the handle has NOT formed yet...and we either wait or follow the curve up..especially if the stock moves up with good volumes...let's wait and see how it develops...this is purely for educational purposes...there is a very good book on chart patterns which one should read - William Jiler How to trade chart patterns. Check it out at Amazon.
SADHBHAV : Stock In Consolidation.The stock is consolidating at these levels. We are awaiting the MACD cross-overs. And if that happens we can see the recovery, else EXIT is the best option we see.
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis.
SADBHAVSADBHAV - Volume breakout
These idea's are not my recommendation. Do your own analysis before making any trade based on this idea.
