SWANENERGY Weekly Chart Analysis – Potential Breakout Ahead?
1.Trend Overview:
The stock has been in a strong uptrend, reclaiming its previous highs. Currently trading near 731.95 INR, the price action suggests bullish momentum, with potential for a breakout above 750 INR, its key resistance level.
2.Key Levels:
Resistance: 750 INR – A decisive breakout above this level could lead to new highs.
Support: 600 INR – The stock previously rebounded strongly from this level, making it a reliable support zone.
3.Volume Analysis:
Recent weeks have shown high trading volumes, signaling strong buyer interest. A continued rise in price with similar volumes could further confirm bullish sentiment.
4.Trading Strategy:
For Bulls: Watch for a breakout above 750 INR with strong volumes for an entry signal.
For Dip Buyers: Consider entering near the 600 INR support zone if the stock retraces.
Use a stop-loss below 600 INR for risk management.
5.Caution:
The stock has displayed high volatility, so position sizing and strict stop-loss placement are crucial.
The stock has been in a strong uptrend, reclaiming its previous highs. Currently trading near 731.95 INR, the price action suggests bullish momentum, with potential for a breakout above 750 INR, its key resistance level.
2.Key Levels:
Resistance: 750 INR – A decisive breakout above this level could lead to new highs.
Support: 600 INR – The stock previously rebounded strongly from this level, making it a reliable support zone.
3.Volume Analysis:
Recent weeks have shown high trading volumes, signaling strong buyer interest. A continued rise in price with similar volumes could further confirm bullish sentiment.
4.Trading Strategy:
For Bulls: Watch for a breakout above 750 INR with strong volumes for an entry signal.
For Dip Buyers: Consider entering near the 600 INR support zone if the stock retraces.
Use a stop-loss below 600 INR for risk management.
5.Caution:
The stock has displayed high volatility, so position sizing and strict stop-loss placement are crucial.
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