[Premium] Trade Of The Week
July 19, 2022
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.
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Allstarcharts Team