Bluestone Jewellery and Lifestyle Ltd – Retesting Base After Breakout
BLUESTONE
📈 Pattern & Setup:
Bluestone has shown a clean breakout from its previous base structure and is now retesting that same breakout level — a healthy technical behavior before the next leg higher. After a sharp move up, the stock witnessed a controlled pullback, marked by a brief shakeout near 680, which helped remove weak hands.
Since then, price action has tightened, forming a narrow range with declining volume — classic signs of quiet accumulation. The breakout retest around 700–710 has held firmly, showing strength in the structure.
A decisive close above 725 could signal the start of a new momentum wave toward 800+.
📝 Trade Plan:
✍Entry: Above 725 (breakout confirmation after retest)
🚩Stop-Loss: 690 (below recent accumulation zone)
🎯Targets:
Target 1 → 770
Target 2 → 820 (15% potential move)
💡 Pyramiding Strategy:
1. Enter with 60% position above 725
2. Add remaining 40% after price sustains above 740
3. Trail stop-loss to 710 once price crosses 760
🧠 Logic Behind Selecting this Trade:
This setup is a textbook retest of a prior breakout zone with visible accumulation signs. The earlier shakeout absorbed selling pressure and created a strong base of support. With volume drying up during consolidation, any expansion in volume above 725 will likely confirm the next rally phase.
Keep Learning. Keep Earning.
Let’s grow together 📚🎯
🔴Disclaimer:
This analysis is for educational purposes only. Not a buy/sell recommendation. Please do your own research or consult your financial advisor before trading.
BLUESTONE 📈 Pattern & Setup:
Bluestone has shown a clean breakout from its previous base structure and is now retesting that same breakout level — a healthy technical behavior before the next leg higher. After a sharp move up, the stock witnessed a controlled pullback, marked by a brief shakeout near 680, which helped remove weak hands.
Since then, price action has tightened, forming a narrow range with declining volume — classic signs of quiet accumulation. The breakout retest around 700–710 has held firmly, showing strength in the structure.
A decisive close above 725 could signal the start of a new momentum wave toward 800+.
📝 Trade Plan:
✍Entry: Above 725 (breakout confirmation after retest)
🚩Stop-Loss: 690 (below recent accumulation zone)
🎯Targets:
Target 1 → 770
Target 2 → 820 (15% potential move)
💡 Pyramiding Strategy:
1. Enter with 60% position above 725
2. Add remaining 40% after price sustains above 740
3. Trail stop-loss to 710 once price crosses 760
🧠 Logic Behind Selecting this Trade:
This setup is a textbook retest of a prior breakout zone with visible accumulation signs. The earlier shakeout absorbed selling pressure and created a strong base of support. With volume drying up during consolidation, any expansion in volume above 725 will likely confirm the next rally phase.
Keep Learning. Keep Earning.
Let’s grow together 📚🎯
🔴Disclaimer:
This analysis is for educational purposes only. Not a buy/sell recommendation. Please do your own research or consult your financial advisor before trading.
TrendX INC
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
TrendX INC
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.