Polyplex Corp ( LTP 1743.40) traveling in an affirmative rising channel is ideally poised for an either way swing,
*scenario #1 it retraces and touches the lower end of the rising channel, takes support there and then crosses the upper end of the channel then can travel to the 1.618 retracement which is 2173.80 i.e. a 24.65% swing (validity confirmed after a closing above 1995)
*scenario #2 it travels downwards and breaks the lower end of the channel then it can swing towards the 200 DMA .618 retracement which is 1233.70 i.e. a -29.23% swing ( validity confirmed after a closing below 1590)
expert opinions solicited
*scenario #1 it retraces and touches the lower end of the rising channel, takes support there and then crosses the upper end of the channel then can travel to the 1.618 retracement which is 2173.80 i.e. a 24.65% swing (validity confirmed after a closing above 1995)
*scenario #2 it travels downwards and breaks the lower end of the channel then it can swing towards the 200 DMA .618 retracement which is 1233.70 i.e. a -29.23% swing ( validity confirmed after a closing below 1590)
expert opinions solicited