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 CHEMFAB. Check out how we accurately predicted on the possible up move on CHEMFAB which has rallied more than 11% in just 2 trading sessions.
We published about CHEMFAB in "The Financial Waves Short Term Update" on 24th July 2024 which our subscribers receive pre-market every day. Check out below the detailed research report that we published.
CHEMFAB Daily chart anticipated on 24th July 2024
CHEMFAB Horly chart anticipated on 24th July 2024
Wave Analysis As on 24th July 2024
CHEMFAB has been moving higher recently and intact in strong uptrend. In the previous session it closed with a massive gain of 9.17%.
On the daily chart, in the previous session prices formed a bullish candle. Price has closed above 744 level which confirms breakout of the Rounding bottom pattern. Price continued to trade above the Ichimoku cloud which indicate that the short-term bias is likely to remain bullish.
As shown on the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 740.
In short, trend for this stock is positive. Use dips towards 770-780 as a buying opportunity for a move towards 850-860 levels as long as 740 holds on the downside.
CHEMFAB Daily chart happened as on 29th July 2024
Happened: The stock moved as we anticipated. Prices showed a sharp rise and not only achieved our target but surpassed it and made a high of 898.95 on 25th July 2024 which is more than 11% in just 1 trading session especially, when the market scenario is very choppy.
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