Every trade has its own set of assumptions. Raymond stock during its momentum moved gapped up at 680 and hence a trade was initiated when the stock filled the gap but that trade turned out to invalid as the stock bullish move fizzled out and it slipped below 680.
https://www.smarketpremium.com/2019/11/25/did-you-miss-this-stock-when-it-rallied-vertically-last-time/
What happened to the above trade? – STOP LOSS HIT 🙁
Now Assume you did not take that trade – there is another bullish pattern that seems to have developed on the Raymond stock chart. Will traders be second time lucky?
Here’s the Raymond Daily Chart
Source: Chartalert.com
Raymond stock made a big bullish move after taking support at 50 dma when it rallied from 520 to 840. The stock has pulled back and once again standing at 50 dma. Can the stock resume the uptrend again?
One can hope so. Keep a stop loss 4% below 50 dma. Please do your own due diligence before trading.
Sir very good observation on Raymond, but investors didnt like AGM and stock has been correcting after that. Seems promoters not interested in shareholders making money.
I agree
I guess stop loss has been triggered for Raymond