WHEELS INDIA - MONTHLY BREAKOUT - SECTORAL TAILWINDS
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Hi Folks,
Auto ancilliary sector is going through accumulation without much price movement. Many of the stocks in the sector are setting up well for mid term trade(3-6) months. Wheels India has given a breakout from bullish pendant pattern on a monthly timeframe. RSI breakout augments the price movement too. Targets are marked with initial ones of previous swing highs and then last target of pattern breakout.
Auto ancilliary sector is going through accumulation without much price movement. Many of the stocks in the sector are setting up well for mid term trade(3-6) months. Wheels India has given a breakout from bullish pendant pattern on a monthly timeframe. RSI breakout augments the price movement too. Targets are marked with initial ones of previous swing highs and then last target of pattern breakout.
Transaction en cours
Strong breakout retest and followed up with strong up move.
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