[Premium] Trade Of The Week

JC Parets
July 25, 2021

Today we're going to take a look at a long setup in the Cements space. We initiated a buy on this stock in the month of April and from the looks of it, we now have to update the target!

Ambuja Cement has been on our buy list for some time now. With the close in the week gone by, this position warrants an update in the levels to track. We've seen a good move come through in the Cement stocks as well and Ambuja stood out at current levels.

The price moved past its 161.8% Fibonacci retracement with ease and now rests above it. As long as this move continues, we'll be tracking the next target near 540. The risk management level to keep in mind is 387.

Take a look at the indicator to gauge the strength in the stock!

Cement stocks are showing strength and Ambuja certainly makes the cut. What are you tracking in you portfolio?

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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