UBL(United Breweries Ltd) Waiting for BreakoutThe idea here is about UBL (United Breweries):
United Breweries Ltd a flagship company of UB Group is engaged in the manufacturing and marketing of beverages.
1. Broken out of Ascending Triangle , Double bottom & retesting of support & neck level completed on a weekly chart as per below:
2. Waiting for breakout of Ascending Triangle & Double bottom on a daily chart at the time of publishing.
3. Trading above 20 & 200 EMA on daily chart & weekly chart.
4. Ichimoku Cloud analysis: Kumo Breakout & Kumo Twist on a daily, weekly & monthly chart is Strong buy for an upward momentum.
5. RSI is at 59.85 on a Daily Chart & 58.87 on a weekly chart at the time of publishing.
6. MACD Way above signal line on daily & weekly chart .
7. Hull Moving & other moving average is a strong Buy on Daily, Weekly & monthly chart. This is a very strong signal for upward momentum.
8. Wait for breakout & retest completion for long entry. However, keep in watch list for the week & alert for price momentum.
Projected targets as per Ascending triangle & Double bottom provided in the chart.
Stop Loss: provided in chart.
Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice. So please do your own DD (Due Diligence) before any kind of investment”.
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