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SKS Microfinance

Discussion in 'Technical Analysis' started by masihpatel, Jul 9, 2012.

  1. masihpatel

    masihpatel Active Member

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    Looks like SKS Microfinance given a recent breakout at the level of 70, with huge volume of shares traded in last 2days.:)
     
    Last edited: Jul 9, 2012
    masihpatel, Jul 9, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    Not a breakout above 70 but a pull back after a very strong downtrend.

    Make sure you try to find the breakout pattern only when you see an uptrend in stock and not in downtrend.
     
    shabbir, Jul 9, 2012
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  3. masihpatel

    masihpatel Active Member

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    What I can see is uptrend is started at around 55 earlier in June series. I dont know I am correct or not?secondly what should be the period (no. of trading sessions) of uptrend before breakout? thx
     
    masihpatel, Jul 9, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    Big up moves in a long downtrend means it is bounces and not uptrend. I have explained that in my ebook. Time to re-read it.
     
    shabbir, Jul 10, 2012
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