[Premium] Trade Of The Week

JC Parets
October 10, 2021

This week we’re looking at a long setup in the Auto sector. We're seeing strength come through in the Auto segment and thought of taking a look at a stock that's ripe for a bullish move.

Let's take a look at this stock.

Suprajit Engineering has moved past a crucial level in the week gone by. The price broke out of a five-year base and has absorbed all the overhead supply at the level of 348. This is the same level where small caps and risk-on indicators rolled over, initiating a long drawn underperformance in the Mid- and Small-cap stocks.

The indicator is close to the bullish momentum territory and is catching up. With this base breakout, the price looks ready for the next leg of the rally.

We are bullish above the level of 348, with a target near 500.

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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