This Stock Has Broken & Sustained Above 20 Years Old Resistance
📊 JTEKTINDIA
✅ The stock has broken a 20-year-old strong resistance (upper trendline) with high volume.
✅ Whenever it used to touch the upper trendline, it would fall by 20-30%, but this year (2024), in the last 6 months, it has tested the resistance 3 times and didn't fall, showing strength in the stock. It already broke the trend on June 14th, but I was waiting for confirmation to see if it was a trap or real. It has managed to sustain above the resistance and is now ready for new higher highs.
🚨 Fundamentally, the company is also good. I have checked the balance sheet and other aspects, and all looks good.
👉 If the stock shows momentum near our target, we will hold it positionally for 400+ targets.
✅ The stock has broken a 20-year-old strong resistance (upper trendline) with high volume.
✅ Whenever it used to touch the upper trendline, it would fall by 20-30%, but this year (2024), in the last 6 months, it has tested the resistance 3 times and didn't fall, showing strength in the stock. It already broke the trend on June 14th, but I was waiting for confirmation to see if it was a trap or real. It has managed to sustain above the resistance and is now ready for new higher highs.
🚨 Fundamentally, the company is also good. I have checked the balance sheet and other aspects, and all looks good.
👉 If the stock shows momentum near our target, we will hold it positionally for 400+ targets.
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.