A cup and handle is considered a bullish signal extending an uptrend, and it is used to spot opportunities to go long. Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern.
Gufic Bio Science- Nice Breakout
Capital to be deployed- 20k
Investing Price -282-284
Breakout Price -280
Stoploss -236
Targets-341-410-601
RT for max reach
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As long as 208 is held, we can safely say that the 3rd wave has started.
Expecting the 3rd to be subdivided again in 5-3-5-3-5 structure to reach equality to 1 at 255
Lets see how this develops
DOW Theory higher high and higher top formation
equity 10 cr promoters holding
promtors holding 75% increased in a year from 65%
good support from trendline
NSE:GUFICBIO Broke out of rectangle consolidation pattern and now price gave retest + confirmation.
Bullish signs-
Big volumes on breakout and on the buy side.
Price entered virgin territory with this consolidation and breakout.
Recent support from 30 week MA.
Low volume red candles.
Pattern is of a bullish flag type.
Stock has already delivered multibagger...
