As we can see price is in consolidation and I think price will drop once again before flying high. I will start accumulating on every dip good luck everyone. It's only for education purpose and not to be taken as trading advice.
One of the most loved stock now looking very weak as if it's heading to 3 digit soon still am looking to long for immediate target as long term outlook is still bad for the whole Graphite sector.
Broad channel held, down move channel end completed and up move started. Now in this up move it has to close above 4600 on closing basis for regaining its movement above 1/8 angle.
The present price action is supported by 50dma , the long term trendline and the 0.618xa of the bullish bat in formation
SO with such supports, an entry on the long here makes sense..
But there seems to be a bear flag and the price action might temporarily breakdown to the PRZ limit of the BAT and spring from the LPS LAst point OF support ..Another/alternative...
