Hi friends,
Ultratech is looking to come out of a squeeze which is happening for some time
lets look at the Ultratech Technical chart,
Looking at the chart we can easily see it finished a wxy at 1634.From there we had a nice A or 1 up
and then a correction started for the rise,In correction i see every leg has got 3 waves so
a kind of squeeze or triangle underway.
Lets look at the squeeze closely.
So this stock has potential to go towards 1780 provided 1660 holds.
So here we have a nice swing trade setop buy in range 1680-85
stoploss neat 1660 and target 1780 .
Need to be carefull neat 1710-1720 reason once thats crossed 1780 would be
coming soon.
Regards
Rish
Ultratech is looking to come out of a squeeze which is happening for some time
lets look at the Ultratech Technical chart,
and then a correction started for the rise,In correction i see every leg has got 3 waves so
a kind of squeeze or triangle underway.
Lets look at the squeeze closely.
So here we have a nice swing trade setop buy in range 1680-85
stoploss neat 1660 and target 1780 .
Need to be carefull neat 1710-1720 reason once thats crossed 1780 would be
coming soon.
Regards
Rish
All long trades taken in Ultratech should be booked neat 1720 or should hold with buy price stoploss .
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