[Premium] Trade Of The Week

JC Parets
November 1, 2021

This week we’re looking at a long setup in the Infrastructure sector. The market has been quite selective over the past two weeks but we saw strength come through in pockets. Here is one such example.

Let's take a look at this stock.

ABB India has had a breakout! Earlier, the stock moved out of its base and progressed to its next target. Now, after a consolidation of four months, the price broke out above the crucial level of 1,910.

Notice the breakout candlestick though. It's a strong bullish candlestick. In agreement of this strength is the momentum indicator that is placed comfortably in the bullish territory.

Such emphatic moves add to the strength of a breakout.

We are bullish above the level of 1,910 with a target near 2,650.

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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