FINEORG TRADE IDEA - TOP DOWN APPROACH
Stock gave a significant move from covid (March 2023) lows and gave 281% returns till Sept 2022; after that correction phase started and it retraced 40-50% till feb-march 2023
Then it accumulated for almost 18-19 month in a fixed range with less volumes ; since last 2-4 weeks there are some volume spikes seen with coming out of accumulation range AND it made higher low formation since 3-4 weeks.
Last trading session there was about 9-10% move with above average volume ; clearly shows some buying interest -
The trade may set above 5350 on daily closing basis (After switching to daily chart) with possible SL 4600 and target near all time high 7100-7500.
Important things drawn on chart. Do your analysis and all suggestions are warmly welcomed by comments. Wish you all a HAPPY FIBONACCI DAY.
Then it accumulated for almost 18-19 month in a fixed range with less volumes ; since last 2-4 weeks there are some volume spikes seen with coming out of accumulation range AND it made higher low formation since 3-4 weeks.
Last trading session there was about 9-10% move with above average volume ; clearly shows some buying interest -
The trade may set above 5350 on daily closing basis (After switching to daily chart) with possible SL 4600 and target near all time high 7100-7500.
Important things drawn on chart. Do your analysis and all suggestions are warmly welcomed by comments. Wish you all a HAPPY FIBONACCI DAY.
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