Relaxo Footwears have broken out of the Channel/Triangle pattern and has retested the breakout area. Entered long with strict stop loss. If going further below, better to exit without a second thought.
Possible target just below a recent resistance area.
Possible target just below a recent resistance area.
Kommentera:
Relaxo seems to have held the support. A good green candle formed.
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The trendline with the higher slope has been broken downwards today. Let's see if Relaxo can take support on the upper line of the channel.
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Relaxo not giving a clear clue about the next move. Even while the market is highly bullish, Relaxo is very sluggish. Holding the support line. There's still hope for a positive move.
Kommentera:
Held the support really well. Jumped up with a good bullish candle.
Trade stängt: målet nått:
Hit the target right after market opening