SWING IDEA - FIVE STAR BUSINESS FINANCE LTD

31 May

Five Star Business Finance, a leading NBFC (Non-Banking Financial Company) providing small business loans, is showing promising technical indicators for a potential swing trade.

Reasons are listed below :

• 750-780 Levels Tested Multiple Times: The 750-780 levels have been significant resistance zones. The price is again attempting to break through these levels, indicating strong bullish momentum.
  
• Bullish Marubozu on Daily Timeframe: The recent formation of a bullish marubozu candle on the daily chart indicates strong buying pressure and suggests potential for further upward movement.
  
• Bullish Engulfing Candle on Weekly Timeframe: The weekly chart shows a bullish engulfing candle, which engulfs the previous week's candle, signaling a strong shift towards bullish sentiment.
  
• 0.5 Fibonacci Support: The stock is finding support at the 0.5 Fibonacci retracement level, suggesting a strong base for a potential upward move.
  
• Breaking 6-Month Consolidation Zone: Five Star Business Finance is breaking out of a consolidation phase that lasted for 6 months, indicating the potential for a new bullish trend.
  
• Trading Above 50 and 200 EMA on Daily Timeframe: The stock is trading above both the 50-day and 200-day exponential moving averages, indicating a strong uptrend and providing robust support levels.
  
• Consistent Higher Highs: The stock has been consistently making higher highs, reflecting ongoing bullish sentiment and a sustained uptrend.
  

Target - 875 // 950
Stoploss - weekly close below 685

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@visionary.growth.insights

8 Haz

Not

Made a high of 13%++

18 Haz

Not

we can add quantity at 770 levels

26 Haz

Not

made a hammer candle at support level, we might see a fast move

1 Tem

Not

stock broke out, retested 780 levels and is now ready to continue its trend

13 Tem

Not

Accumulate !

28 Tem

Not

hold!

11 Ağu

Not

near SL

17 Ağu

Not

cautious

23 Ağu

Not

hold!

31 Ağu

Not

back to our buying price

15 Eyl

Not

hold

21 Eyl

Not

we are back in profit, hold!

17 Eki

İşlem kapandı: hedefe ulaştı

1st target achieved : 21%++

28 Eki

Not

MADE A HIGH OF 24%++