[Premium] Trade Of The Week

JC Parets
May 29, 2021

This week we're looking at one long setup in Cement. Commodities and Infrastructure are bouncing from crucial levels. We'd like to look at a name from this segment.

JK Lakshmi Cement managed to break out of a five-year base in the week gone by! The price closed substantially above its overhead resistance and seems ready for the next leg of the rally. The indicator has settled in the bullish momentum zone as the price broke out with strong bullish candlesticks over the last two weeks.

We are bullish above the risk management level of 535, with a target near 755.

Click on chart to enlarge view.

Cement stocks have been gaining strength and JK Lakshmi stands out on an absolute and relative basis.

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

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