'Bullish' on TORRENT POWER for medium term
已更新
The stock hit a fresh 52-week high of 610 on 22nd Aug 2022, but failed to hold on to the momentum, falling about 29%.
It then took support at the lower trendline of the wedge pattern , gave a confirmed breakout from resistance trendline on 2nd March 2023, thereby bounced back from a 52W low of 430.85 to an intraday high of 550 on 17th Jan 2023, rising nearly 28%.
In terms of price action, the stock is trading well above all the short-term and long-term moving averages.
RSI(weekly) is at 58 and MACD(weekly) gave bullish crossover above its signal line on 3rd March 2023. The stock is in a very bullish trend, and it's expected that the stock's price may continue to rise towards the assigned targets, with a recommended stop loss of 513 on a closing basis.
It then took support at the lower trendline of the wedge pattern , gave a confirmed breakout from resistance trendline on 2nd March 2023, thereby bounced back from a 52W low of 430.85 to an intraday high of 550 on 17th Jan 2023, rising nearly 28%.
In terms of price action, the stock is trading well above all the short-term and long-term moving averages.
RSI(weekly) is at 58 and MACD(weekly) gave bullish crossover above its signal line on 3rd March 2023. The stock is in a very bullish trend, and it's expected that the stock's price may continue to rise towards the assigned targets, with a recommended stop loss of 513 on a closing basis.
注释
Target 1 achieved on 6th June 2023 !!!注释
Target 2 achieved on 8th June 2023!!!
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