Swing Trading Stock To Trade This Week

 


Shemaroo Entertain | Symmetrical Triangle Pattern Breakout

Stock Name: Shemaroo Entertain

Pattern: Symmetrical Triangle

Time Frame: Weekly

Observation:

Shemaroo Entertain made a new all time high of 595 Rs on 22 January 2018 and faced a strong rejection from ATH (All Time High). The stock has been in a downtrend since 22 January 2018 and made a low of 41.75 Rs on 9 March 2020 after that stock started forming a pattern which is known as symmetrical triangle pattern (STP). Now the stock has given a strong breakout of STP on weekly time frame with good volume spike also RSI is indicating a strong strength (RSI at 74) in the stock. In coming weeks, we can see a good upside move in the stock.

Note: The stock has already given a strong move. Wait for a pull back so our Risk to Reward Ratio will be favourable. 



Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.


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