Thanks for this really nice chart and the stock tip..for sure looks to be a candidate for a breakout if market sentiment in general remains positive...
The main criteria remains that sentiment should be positive. Its being seen that sooner or later money goes into the stocks which has not moved much. We should be tracking it and any break out should be traded, the return should be handsome, even delivery buy can give over 50% return!
Confirming your thoughts is a stock I recently sold in this sector. IPI (intepid Potash) the whole sector has been very strong in OCT. Not sure if it will last but if one believes in an improving world market charts and "Cup and Handles" or "Waves" I would expect a market leader like POT to climb back to it's May $120 highs it's at $100. I presume Chambal is an India fert co.
Well the recent weakness in market have impeded the breakout, and I think this stock needs to wait for some more time. As the liquidity rush into markets is still not over. I don't feel there is any relation fundamentally with the rise of POT and IPI along with Chambal Fertilizer, chambal is still resting on its trend line and hence rally can still be expected.
4 comments:
Thanks for this really nice chart and the stock tip..for sure looks to be a candidate for a breakout if market sentiment in general remains positive...
The main criteria remains that sentiment should be positive. Its being seen that sooner or later money goes into the stocks which has not moved much. We should be tracking it and any break out should be traded, the return should be handsome, even delivery buy can give over 50% return!
Confirming your thoughts is a stock I recently sold in this sector. IPI (intepid Potash) the whole sector has been very strong in OCT. Not sure if it will last but if one believes in an improving world market charts and "Cup and Handles" or "Waves" I would expect a market leader like POT to climb back to it's May $120 highs it's at $100. I presume Chambal is an India fert co.
Well the recent weakness in market have impeded the breakout, and I think this stock needs to wait for some more time. As the liquidity rush into markets is still not over.
I don't feel there is any relation fundamentally with the rise of POT and IPI along with Chambal Fertilizer, chambal is still resting on its trend line and hence rally can still be expected.
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