[Premium] Trade Of The Week

JC Parets
November 15, 2021

This week we’re looking at a long setup in the Infrastructure sector space. Industrials and Infrastructure are showing strength and we're taking a look at one such stock today.

Timken India has been on quite a  journey with the price moving higher after halting at every resistance. This stock has been performing well and continues to display strength even now.

The indicator has been comfortably placed in the bullish territory for some time now and seems like it could continue to do so. In the week gone by, we got a strong bullish candlestick breakout above the level of 1,855. Notice how the price has been attempting to break out above this level over the past couple of months. Looks like we finally got it!

We are bullish above the risk management level of 1,855, with a target near 2,600.

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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