SWING IDEA - CAR TRADE TECH
CarTrade Tech is showing a promising swing trade setup based on the following key technical signals.
Reasons are listed below :
Target - 1110 // 1210 // 1400
Stoploss - weekly close below 750
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Break of Cup and Handle Pattern: The price is attempting to break out of a classic cup and handle pattern, which is a strong bullish continuation signal.
- 950 Zone Tested Multiple Times: The 950 zone has been tested repeatedly, indicating it is a strong resistance level. A breakout above this level could result in further upward momentum.
- VCP Pattern in Uptrend: A Volatility Contraction Pattern (VCP) is forming, which suggests tightening price action and may lead to a breakout if volatility decreases and buying pressure increases.
- Bullish Engulfing Candle on Weekly Timeframe: A bullish engulfing candle on the weekly chart reinforces the potential for an upward move, showing strong buying interest.
- Increase in Volumes: A noticeable spike in volumes supports the bullish sentiment and confirms that market participants are actively involved in this move.
- Higher Lows: The lows are consistently shifting higher, indicating sustained buying pressure and upward momentum.
Target - 1110 // 1210 // 1400
Stoploss - weekly close below 750
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
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