This is the analysis of SOMICONVEY in Weekly Time Frame. Watch carefully. The chart explains itself.
The stock managed to break the long term resistance with increasing volume. It can retest the breakout level. If it will sustain above the breakout level, it is good for the stock. Generally Multiyear Breakout is a bullish signal for stocks.
There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown.
Always maintain your risk management.
Book your profit according to your “STOMACH”.
Disclaimer:
This is not investment advice. I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
Happy trading.
About SOMICONVEY :
Somi Conveyor Beltings Ltd. engages in the manufacture and sale of industrial conveyor belts. It products include general purpose, heat resistant, fire resistant, oil resistant, and special conveyor belts. The company was founded on June 16, 2000 and is headquartered in Jodhpur, India.
The stock managed to break the long term resistance with increasing volume. It can retest the breakout level. If it will sustain above the breakout level, it is good for the stock. Generally Multiyear Breakout is a bullish signal for stocks.
There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown.
Always maintain your risk management.
Book your profit according to your “STOMACH”.
Disclaimer:
This is not investment advice. I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade.
Happy trading.
About SOMICONVEY :
Somi Conveyor Beltings Ltd. engages in the manufacture and sale of industrial conveyor belts. It products include general purpose, heat resistant, fire resistant, oil resistant, and special conveyor belts. The company was founded on June 16, 2000 and is headquartered in Jodhpur, India.
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