[Premium] Several Stocks Gaining Energy

JC Parets
August 29, 2019

This post is a continuation of this week's Mystery Chart Reveal in which we discuss many of the big bases forming in the Energy sector.

Adani Transmission is setting up for fourth testing of resistance near 253. If prices can break above 255 then we want to be long with a 335 target.

Click on chart to enlarge view.

CESC Ltd. continues to consolidate in its range. If prices break above 850, then we can be long with a target of 1,175.

Gujarat Gas Ltd. is a long if prices break above 193, with a target of 240.

Kalpataru Power Transmission Ltd. has pulled back a lot, but if prices can close above 540 then we can be long with a target of 700.

Petronet LNG is breaking out. If prices are above 253.50 then we'd expect a retest of resistance near 275. If prices can get above that level then the bias is higher towards 319.

Torrent Power is a long if prices can break above 305, with a 394 target.

These Energy stocks continue to build bases that support higher prices. If one of them breaks out, it's likely happening in an environment where all of them are trending well and the broader market has found its footing.

For now, let's keep these names on our radar and waiting for our trigger.

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team

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