SWING IDEA - CARBORUNDUM UNIVERSAL
Carborundum Universal, a renowned conglomerate in the industrial sector, presents a compelling swing trade opportunity.
Reasons are listed below :
Target - 1405 // 1475 // 1650
Stoploss - weekly close below 1085
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- A bullish Marubozu candle on the weekly timeframe signals strong buying pressure and potential upward momentum.
- The stock is breaking out of a consolidation phase lasting over a year, indicating a significant shift in market sentiment and potential for sustained movement.
- Finding support at the 0.382 Fibonacci level strengthens the bullish case, providing a solid foundation for potential upward movement.
- The 50-period Exponential Moving Average (EMA) on the weekly chart acts as additional support, reinforcing the bullish bias.
- The stock is attempting to breach its all-time high, signaling strong upward momentum and potential for further gains.
- Notable increase in trading volumes reflects heightened market interest and potential accumulation by investors, adding confirmation to the bullish thesis.
Target - 1405 // 1475 // 1650
Stoploss - weekly close below 1085
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Comment:
3% ++ done
Comment:
8.8% done
Comment:
Price retraced back to buying level and formed a doji, we can add quantity here
Trade closed: target reached:
1st target achieved : 14%++