[Premium] Trade Of The Week

JC Parets
August 17, 2022

The stock making its way to today's post is part of the Defense sector that has been performing well for a while now.

And guess what? We have a breakout! Do you know which stock we're talking about?

Stocks from the Defense sector have been featured in this post recently and now we have another name added to the list!

Bharat Electronica Ltd is the stock that is displaying strength at the moment. The sector as a whole has been an outperformer for quite some time. The price broke out above 161.8% Fibonacci retracement zone at 278. With this move, the stock has new levels to follow.

After a predominantly sideways move, we're seeing a significant breakout coming through in the price here.

We are bullish above the risk management level of 278 with a target close to 415.

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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