Friday, January 31, 2014

Ultratech Technical chart

Hi friends,
                    Ultratech is looking to come out of a squeeze which is happening for some time
lets look at the Ultratech Technical chart,
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.
Ultratech Technical chart
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.



Rish said...

All long trades taken in Ultratech should be booked neat 1720 or should hold with buy price stoploss .

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