Go Long @ 327.8 for Targets of 357, 377, and 423 with SL 309.45
Reasons to go Long :
1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.5 Fibonacci level.
2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.5 Fibonacci level.
3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
Reasons to go Long :
1. On Weekly timeframe If we draw Fibonacci retracement from the recent swing low (A) to the swing high (B) then the stock took support from the 0.5 Fibonacci level.
2. In addition to this, the stock formed a Bullish Engulfing Pattern (marked with a orange color) around 0.5 Fibonacci level.
3. Also there is a strong demand zone (marked with a purple color) from which the stock is taking support.
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.
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.