GLAS.N - PGP GLASS CEYLON PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:GLAS.N0000
GLAS.N0000 trade ideas
GLAS.N0000Wait for pullback to 20
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GLAS.N - PGP GLASS CEYLON PLCDisclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in any stock exchanges, Indices, Stocks, Forex, Crypto etc.
CSELK:GLAS.N0000
GLAS1. During the previous run to ATH it happened in 4 phases with % reducing.
This time first three phases happened with marginal reduce in %
2. Last time when 52 week high was broken the following week went up by 30%
3. When the previous channel was attempted to breakout, it got rejected and ended up breaking down. After the most recent attempt to breakout channel, it held at midway of channel and moving towards another attempt to BO
4. Moving Averages aligned and turned upwards
5. Trading above Volume Weighted MA
6. Compared to the first impulse, other impulses happened with low volume.
Watch out for the AVWAP from the recent highs!With solid fundamentals backing the current move in GLAS, this could just be the early phase of the uptrend. The AVWAP from the current highs is around Rs 21.10 - Buyers need to keep an eye on this level. Closing above this on high volume would likely put the buyers back in control and initiate a strong upside move.
Right now, the stock is trading above a rising 50 and 200 day MA meaning that both the medium and long term trend is very much favoring the buyers.
GLAS | Cup & HandleThe stock has formed a cup and handle pattern. As the pattern has not been broken yet, and the Relative Strength Index (RSI) is approaching the trendline resistance, it may be best to trade with a stop-loss order placed below the previous higher low of 14.60.
If the neckline resistance at 15.50 levels is breached, the stock may reach Fibonacci retracement level 0.65 at 18 levels or even higher, possibly towards 18.50 levels.
Disclaimer: This chart and analysis are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations. Do your own due diligence before trading or investing in this stock.