Observations:
1) Stock has broke its resistance zone of 82 - 84.
2) Fixed range volume profile shows that in rally from 63.05 to 84.75, most of shares exchanged hands around 81.80 level.
3) Combining both observations, we can expect previous resistance zone of 82 - 84 should now act as strong support zone.
However, trader should not forget volatility of this stock!
Trade Details:
Buy between 84.50 - 86.00
TGT: 101.00
SL : 79.40
RR: 1:3
Disclaimer:
This idea is presented just for educational purpose only. You will be solely responsible for your own money & decisions you take.
1) Stock has broke its resistance zone of 82 - 84.
2) Fixed range volume profile shows that in rally from 63.05 to 84.75, most of shares exchanged hands around 81.80 level.
3) Combining both observations, we can expect previous resistance zone of 82 - 84 should now act as strong support zone.
However, trader should not forget volatility of this stock!
Trade Details:
Buy between 84.50 - 86.00
TGT: 101.00
SL : 79.40
RR: 1:3
Disclaimer:
This idea is presented just for educational purpose only. You will be solely responsible for your own money & decisions you take.