[Premium] Trade Of The Week

JC Parets
January 3, 2022

Another week, another IT trade setup that we're looking at. While there is a pickup in the market sentiment, the ideas with most conviction are coming through from IT.

Let's take a look at what we have today!

Eclerx Services has been consolidating for a while after the big base breakout we had witnessed in mid-June 2021. In the week gone by, however, we got a breakout! The price has moved out of its sideways range and above its crucial resistance of 2,490. With this move, we're seeing the indicator head back into a bullish momentum regime.

This breakout has come in the form of a strong bullish candlestick indicating the growing momentum.

We are bullish above the risk management level of 2,490 with a target close to 3,830.

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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