Swing trade idea for coming week
DREDGE CORP
BUY 565+
SL 529
Target 775+
Expected RR 1:5++
DISCLAIMER - We are not responsible for your profit and loss, it's only for education purpose analysis.
Strong bullish pattern inverted head and shoulder with depth of 70 points in head.
Strong buy between 330-340
Immediate support right shoulder low - 300-308
Immediate target shoulder depth i.e. 30-40 points
Final target 400+
Sustaining above 400 can give us great move in future
DREDGECORP had a nice breakout today with huge volume thus breaking a Weekly/Monthly trendline. If the trend were to continue tomorrow, we should see 525/550 on this. 550-580 is a Supply Zone, so I expect some stop over or pullback. Above this area would be 600/650 targets
On the downside, I see the first support level @ 575. We do have a demand zone below...
Entry in Dredging corporation can be taken after closing above 399. The target for the stock will be 425 and 456. 341 can be considered as the stop loss for the company. Dredging Corporation is a company which was seeing a decline in net cash flow off late but in the recent results it’s cash generation ability is increasing again. Dredging Corp is a company low...
Dredging Corporation of India Ltd - 23.12.2021
The stock is trading @ 322 levels
There is a MACD Bullish Divergence in Weekly Chart
Prices are above EMA
Spinning Top in weekly chart
let the prices go above 326
watch out for the price action
he above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
Best Entry would be between 325 to 340. Trade set up is explained in image itself.
The above analysis is purely for educational purpose. Traders must do their own study before...
Share prices have completely filled a gap marked in red and looking to reverse at 578.59 support. If successful then we might see prices head up to around 623.93 and 664.88 resistance. Failure to hold above 578.59 could see prices fall to the next support at around 544.95 support
