In this Knowledge Nugget, I have explained logic behind my own trade in "IZMO" which rallied 50% + from its swing low in just days. I am found of entering such stocks for one round of buying at support level with my own set up logic. This is for educational purpose & please do not copy this trade without understanding risk & position sizing.
Is this stock creating a Necklace Pattern? A Necklace is when stock goes down 90% & reaches back to its old lifetime High... Just check this on M,W & D TFs with your own setup! Somethings is definitely cooking there!
This counter has following - Fallen over 90% from its ATH. Consolidated over 10 years & Now rising. Movement followed by such a long consolidation leads to bigger moves I believe. This chart is for study purpose & not a buy call!
IZMO - Technical Pick - long term investing opportunity. Targets and Stop Loss as marked on the chart.
fundamentally strong company expanding overseas, no excessive debt price below 1.5times book value high intrinsic value for education purposes only
the upward target has been calculated using point and figure chart disclaimer.. no current position, tracking. not an investing/trading recommendation
IZMO HAS GIVEN THE LONG BREAKOUT AFTER TAKING THE SUPPORT. STOCK HAS COMPLETE THE RETRACEMENT FOLLOWING IMPULSIVE MOVE. STOCK IS IN PROCESS OF COMPLETING N WAVE. ONLY CONCERN IS FE 61.8 IS INLINE WITH DT LONG ENTRY : 110.55 STOP LOSS : CB 85 TARGET : 135, 150 SAFE TRADERS MOVE SL C2C ONCE IT REACHES DT AREA. BECAUSE MOST OF THE TIME INSTRUMENT TEND...