Ramco cement long opportunity

2022年9月10日RAMCOCEM
Stock -> Ramco cements

TimeFrame -> Weekly

Hello all!
Ramco cements has been following and respecting its lower trendline and then further started moving in a channel. It came back to its lower channel trendline and bounced back. It now stands at a crucial resistance zone. The breakout of this zone would make for a good opportunity to go long.

After the breakout of the resistance zone, the stock would also start trading above its 200 and 50-week EMA. The formation of an inverse left shoulder and head further suggests that the stock is ready to move up.

The Risk reward ratio will also be excellent upon crossing the yellow zone.

*NOT A CALL*

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