QUEENSOUTH recently encountered a diagonal resistance while attempting an upward move. Despite a notable increase in trading volume, the stock was unable to decisively break through this resistance level. As a result, it has entered a consolidation phase and is currently holding above a key support level at 12.60.
From a trading strategy perspective, there are two potential entry points: one could initiate a position at the current support level with a tight stop-loss, or alternatively, wait for a confirmed breakout above the diagonal resistance — ideally above 13.70 — for a momentum-based entry. As always, prudent risk management and patience are advised.
From a trading strategy perspective, there are two potential entry points: one could initiate a position at the current support level with a tight stop-loss, or alternatively, wait for a confirmed breakout above the diagonal resistance — ideally above 13.70 — for a momentum-based entry. As always, prudent risk management and patience are advised.
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.
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.