[Premium] Trade Of The Week

JC Parets
October 5, 2022

The stock we're looking at this week is part of the Chemicals sector. These are stocks that are displaying strength on an absolute and relative basis. And that's exactly what we're looking for!

Gujarat Fluorochem has performed extremely well in the past and continues to move higher with momentum. The price has now breached the resistance zone of 3,870. This is a monthly chart, so keep in mind, that these targets will take longer to mature.

Essentially what we have here is outperformance coming through in a market where we're looking for ideas with confirmation.

We are bullish with a risk management level of 3,870 and a target of 6,125.

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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