[Premium] Trade Of The Week

JC Parets
January 9, 2022

Infrastructure has been coming up quite a bit among the strong names. So today's trade selection is a long setup in a chemicals stock.

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

Gujarat Fluorochem Ltd has been having a good run in the market since the 2020 lows. The price has been making steady gains over the past two years and continues to show potential.

In the week gone by, we got a breakout in price, something that we've been tracking. But why have we been tracking this stock? I have two words for you- Relative Strength. While the stock has displayed strength on an absolute basis, it is not one to be ignored on a relative basis.

The indicator too is comfortably placed in the bullish momentum territory. This one definitely ticks a lot of boxes.

With the price move supporting this strength, we are bullish above the risk management level of 2,475, with a target near 3,865.

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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