There are two reasons I like these two breakouts:
1. The stocks breakout and then pullback to retest the previous resistance as support.
2. They belong to the theme that the market likes.
# 1 – Financial Services play: Max Financial Services
Source: Chartalert.com
Max Financial Services has broken out on the weekly chart and is now trading above 460. It looks like a great buy at current market prices
# 2 – Play on Railways: Container Corp
Source: Chartalert.com
Container Corp stock has not done anything spectacular since it broke out. But on Monday did something useful – it bounced from moving average support and hence becomes an attractive buy.
High Quality Ideas
Please do your own due diligence before trading
Just Dial Stop Loss triggered
Max financial promoter has pledged more than 80% of his holding. Is it safe to hold this stock? What is the stop loss?
Good question. I don’t know. There are rumors of new promoters taking over this company and also the market likes non lending financial services companies. We will see