[Premium] Trade Of The Week

JC Parets
March 7, 2022

Metals have been gaining more strength with every passing day and have certainly been outperforming the market at present. We have a long setup from the Metals sector this time around as well.

Let's take a look at the trade for this week!

Hindalco has been gaining more ground and has been building its strength slowly. Going by the move we're seeing on the charts it seems as though the momentum is most definitely caught a bid.

The price closed above the level of 605, moving past the 261.8% Fibonacci retracement. Along with this, one can see the RSI moving into the bullish territory supporting the current move in the price.

On a relative basis too, Hindalco is one of the strongest names in the sector, making its way to new all-time highs.

We are bullish above the level of 605, with a target just short of 930.

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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