[Premium] Trade Of The Week

JC Parets
September 20, 2021

This week we’re looking at a long setup in the Energy sector. Nifty Energy broke out above its overhead resistance. While this stock has been an absolute outperformer, the sector-specific breakout can only add more strength to the existing move.

Let's take a look at this stock.

JSW Energy has been on steroids since it broke out above 135. Easily one of the best performers in the sector, the price looks like it's nowhere near done with this move.

The price broke out above its 261.8% Fibonacci retracement last week. This has opened up a whole new set of levels to be followed. Just in case you want to take a look at the indicator panel, it's screaming bullish sentiment!

We are bullish above the level of 300 with a target near 465.

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

Filed Under