[Premium] Trade Of The Week

RCF is on the verge of a three-year base breakout. Momentum picked up in the week gone by as the price zoomed past its resistance at 56. With the indicator moving sharply into a bullish regime, a strong move can be expected going forward.

We are bullish above the risk management level of 77 with a target near 111.

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BEML is another name that popped up as the price moved past the resistance level of 1000. There is a lot of price memory at this level, and when this overhead supply gets absorbed, it is generally followed by a strong move in the direction of the underlying trend.

We are bullish above the level of 1000, with a target near 1,365.

The sectors keep shifting in terms of the ones that outperform at different points in a market rally. We liked the setups in these two stocks with respect to their risk-reward ratio. Several stocks continue to break out of big bases, and our positive market outlook remains unchanged.

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

And if you're a Premium Member, be sure to check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team