Sometimes simple price pattern along with price indictors creates wonder if one combines it together! See yourself how we identified such a massive move in KECL. Check out how we selected this momentum stock named as KECL which has rallied more than 11%.
We published about KECL in "The Financial Waves Short Term Update" on 10th May 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
KECL Daily chart anticipated as on 10th May 2024
KECL Hourly chart anticipated as on 10th May 2024
Wave Analysis As on 10th May 2024
KECL has been moving higher recently and intact in a strong uptrend. In the previous session, it closed with a massive gain of 6.10%.
On the daily chart, in the previous session prices formed a bullish candle. Recently prices have retested breakout of the rounding bottom pattern. We have shown ADX indicator which gives an indication if the stock is trending or in a trading range. The low readings of ADX indicates that the stock is in a range. The Adx of this stock is 31.26 giving an indication of a trending market. A reading above 25 means strong directional strength.
As shown on the hourly chart, the price is trading above the Ichimoku cloud which indicate that the short-term bias is bullish. The closest support is placed at 160.
In short, trend for this stock is positive. Use dips towards 165-168 as a buying opportunity for a move towards 188-190 levels as long as 160 holds on the downside.
KECL Daily chart happened as on 14th May 2024
Happened: The stock moved as we anticipated. After a dip, prices showed a sharp rise and achieved our target 1 and made a high of 189 on 13th May 2024 which is almost near our target 2 which is more than 11% from the dips in just 2 trading sessions.
Sutra of Waves - Learn the science of trading Options and stocks along with Elliott Wave, Neo Wave, Fibonacci Trading system, and Ichimoku cloud in upcoming live event on 1st - 2nd June 2024. Also, get access to Online Options Trading strategy in the entire Trishul program. Know more
No comments:
Post a Comment