Metals Extend Rally

JC Parets
January 5, 2021

Metals are soaring and we're tracking this space to see if the sector breaks above its resistance. We are currently working on the Quarterly Playbook for our Premium members but wanted to pause and share some interesting ideas with you guys here.

 

Nifty Metal is knocking against its resistance and we would like to be long only if it breaches 3375. Until then, we're just going to be patient.

Click on chart to enlarge view.

Here are a couple of ideas that stand out.

Jindal Stainless is pushing up against its resistance. The stock has made a nice base and the 200-DMA sloping upwards is a positive sign after remaining flat for close to a year.

We are bullish above 90, with a target of 130.

Jindal Saw has bounced back from its support of 68. We are bullish on this stock above 68, with a target of 101.

We will be sharing many more such interesting setups from various sectors in our soon-to-be-released Quarterly Playbook. Stay tuned!

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

Allstarcharts Team

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