BEML LTDLong
BEML Multi year breakout.
Updated
Stock Consolidation since May 2006, between Rs 1800 & Rs 271.
Strong volumes after 2018 indicate there is strong accumulation is complete.
In March 21 Stock gave breakout of the accumulation zone.
Current attempt to breach life high will be 4th attempt. Higher number of attempts means resistance is weakening.
We may see a breakout soon.
On lower time frame
Stock has formed a ascending triangle and also a inside bar below the resistence.
Inside bar is small bodied red candles of low between 2 high volume green candles.
Inside bar increases chances of breakout.
( Below are the some examples of inside bars in links attached )
Strong volumes after 2018 indicate there is strong accumulation is complete.
In March 21 Stock gave breakout of the accumulation zone.
Current attempt to breach life high will be 4th attempt. Higher number of attempts means resistance is weakening.
We may see a breakout soon.
On lower time frame
Stock has formed a ascending triangle and also a inside bar below the resistence.
Inside bar is small bodied red candles of low between 2 high volume green candles.
Inside bar increases chances of breakout.
( Below are the some examples of inside bars in links attached )
Note
Today gave ascending triangle Breakout 🤟🏾Note
New Life HighOut of 15 year consolidation
40% profit at breakout
What else do you want?
Now from current level ready for 40 to 50% upside.
✌🏾
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.