[Premium] Trade Of The Week

JC Parets
October 25, 2021

This week we’re looking at a long setup in the Services sector. With the move in the week gone by, there are only a few pockets of strength to track. And this is one of them.

Let's take a look at this stock.

Transport Corporation of India has displayed strength at a time when most stocks were succumbing to selling pressure in the week gone by. This by itself is a display of relative strength. And this stock caught our attention for the very same reason.

TCI broke out above the resistance level of 552 and saw a strong follow-through post the big base breakout as well. With momentum by its side, the price seems ready for the next leg up.

The momentum is comfortably placed in the bullish territory. With this move, we are bullish TCI above the risk management level of 552, with a target near 819.

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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