[Premium] Trade Of The Week

JC Parets
July 19, 2022

The Auto sector has been the flavor of the season. And by the looks of it, the season isn't over yet! We're here today to discuss another popular stock from this sector.

Eicher Motors is the newest entrant in the 'Auto breakout' space. The price broke out of the sideways range it was trading in, and has followed through as well! Eicher is placed well to move higher towards its target of 3,850. On a relative basis too, the stock is making new 52-week highs.

It's also important to note that the price is trading above its 2018 high. Psychologically that is a critical resistance to overcome.

We are bullish above the risk management level of 3,000 with a target near 3,850.

Click on the chart to zoom in.

Thanks for reading and please let us know if you have any questions.

And if you're a Premium Member, check out our other weekly post, "Three Charts For The Week Ahead."

Allstarcharts Team

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