Maple Leaf Cement Factory (MLCF) is showing strong signs of a trend reversal on the daily timeframe. After a period of consolidation, the price has formed a classic Double Bottom (W-Pattern), successfully testing the support level near 114.00 twice.
Key Technical Highlights:
Price Action: Strong bounce from "Bottom 2" with an increase in bullish volume, suggesting accumulation.
RSI (14): Currently at 60.78 and trending upward, indicating expanding bullish momentum without being overbought.
Risk/Reward: Offering a solid 1.5 R/R ratio, targeting the projected height of the pattern.
Trade Setup:
Entry: 122.48 (CMP)
Stop Loss: 114.00 (Below recent lows)
Target 1: 129.04
Target 2: 136.17
Disclaimer: This is for educational purposes only. Please manage your risk accordingly.
Key Technical Highlights:
Price Action: Strong bounce from "Bottom 2" with an increase in bullish volume, suggesting accumulation.
RSI (14): Currently at 60.78 and trending upward, indicating expanding bullish momentum without being overbought.
Risk/Reward: Offering a solid 1.5 R/R ratio, targeting the projected height of the pattern.
Trade Setup:
Entry: 122.48 (CMP)
Stop Loss: 114.00 (Below recent lows)
Target 1: 129.04
Target 2: 136.17
Disclaimer: This is for educational purposes only. Please manage your risk accordingly.
Aviso legal
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.