Not a fan of penny stocks still just for education let us watch this
Only after breakout as >>>> As per chart, long term safe target is 100
Sujlon is consolidating and is ready to spike up
There is strong resistance at 8.45 based on a weekly chart. The orange line at 6.95 acts as a support line. RSI is upwards at 63+. Good time to buy. Hopefully, prices might follow the pattern in the future. It will be retested again at 8.45. As soon as it crosses the barrier, we might see some new heights for this stock.
RSI is indicating Suzlon indicating Oversold. It will bounce from Golden retracement level 5.95 or before 5.95
Currently Suzlon completed, 3rd of 3rd wave, wait for Completion of 4th wave of 3rd wave( Consolidation) which will be around 6.9/ 6.4 after that it will be starting of 5th of 3rd wave will be a Bullish wave, which will go upto 12 to 14 levels. Level for invalidation of above strategy is 6.
Suzlon CMP - 3.50 Looking bullish in weekly time frame. One can go for short term trade setup with the following entry, exit & targets Buy at or above - 3.5 - 4 / Stop Loss 2.60 Target 1 - 4.50 Target 2 - 6.00 Target 3 – 7.50 If it cross 8RS then it will start flying 12 Note: This is my view and for educational purpose only.
It has been into consolidation phase since May 2009, now it has given a breakout. Stock still has high volume to break it's next resistance and achieve it's next high.
Buy When Suzlon Closes Above 6.0 and Gives Breakout The Downward Weekly Trendline and also Horizontal Resistance Level.
In 2 days the 50 day should be around 4.25 so worst case scenario we dip below support of 4.55 which may happen but we are going up to 7.50 in the short term . got rejected from 6.05 which was just .20 shy of our resistance so this time we should stop around there for a pull back before further continuation. This stock still is a no brainer for me at these...
Trading above the 200 day now was expecting it to blast through a few days ago anyways its on track now to the levels on the chart. What i found interesting was if you look back at Feb 2019 it flew from 6 to 8.50 in 2 days maybe the circuit was different ? It looks like this company is sorting its self out and has lowered debt , and got rid of the excess baggage...
Penny stocks are so much fun when they have lesser volume , way easier to manipulate . Looks like the shake out of weak hands and 3.90 is where it should start flipping to hitting the uppe circuit again . Following Rolta path as it peaked then pulled back to resume laters . 3IINFOTECH was at the lower circuit this morning and flipped to upper all of a sudden...
Targets 4.5/8.5/13.30/18.80 and 394 ;) May dip one last time to 3.60 however i really doubt it with the fomo behind it and rumours of Vesta floating around. Again Long term excellent buy , so i'd still buy in however short term maybe dollar cost average your position? Look at it this way 8.50 looks like the next target after 4.50 so even if you get in now at...
Looks like the reversal has begin on the daily chart see it trading above the 200 day and confluence of the 3 moving averages . Its got a fairly good set up worldwide and into something i like. Time to rise from the ashes my friend and wary of your carbon footprint. Targets to the moon ..... High Risk if you're going all in but high returns if you get in...
Either accumulation is done & we will break the red resistance (green) or we still need more accumulation then breakout, either case this will be bullish once we break & close above RED LINE, will buy once we close above not before