DELTA CORP LTD Long term trendline Break
The stock has broken its 3 years downtrend trendline in Dec 2020 and has been able to sustain above it and consolidating in the range of 200- 150.
Currently, prices are trading at and taking support at the lower range.
And it is likely that it might bounce and move towards the upper side of the range at the minimum.
One more positive thing to notice here is the higher high and higher lows structure of this recent rally that started in March 2020.
This could be traded with a stop below 140 levels for an initial target of 200 and if the stock reaches its initial target, it could be trailed for higher targets.
Type of Trade: Positional
Currently, prices are trading at and taking support at the lower range.
And it is likely that it might bounce and move towards the upper side of the range at the minimum.
One more positive thing to notice here is the higher high and higher lows structure of this recent rally that started in March 2020.
This could be traded with a stop below 140 levels for an initial target of 200 and if the stock reaches its initial target, it could be trailed for higher targets.
Type of Trade: Positional
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