POLYCAB - Weekly Channel pattern - Read description carefully
POLYCAB - Although the company has corporate governance issues, there could be good swing trading opportunities in the stock.
My thoughts (not a trading recommendation): 2 scenarios -
I'd go long if the stock takes support at the channel bottom with good price action & reversal candlesticks. My stop loss will be if the channel breaks.
I'd go short if the channel breaks with good volumes and my stop loss will be if the stock comes back into the channel.
My thoughts (not a trading recommendation): 2 scenarios -
I'd go long if the stock takes support at the channel bottom with good price action & reversal candlesticks. My stop loss will be if the channel breaks.
I'd go short if the channel breaks with good volumes and my stop loss will be if the stock comes back into the channel.
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