Ultratech cement- the big becoming bigger

21 Nis 2018

the markup target has been derived from this point and figure chart..

This is a classic case of stepping stone reaccumualtion
there is one prior reaccumualtion which needs a special study as a case
will be updating below
Disclaimer.. Not invested, Not an investing / trading recommendation

21 Nis 2018

Not

for reference of reaccumualtion, this is a good blog post on the subject
stockcharts.com/articles/wyckoff/2015/07/reaccumulation-roundup.html

21 Nis 2018

Not

this is a atypical reaccumulation,.. with a SOW in the range..


i encountered a similar case before tagging it here...

21 Nis 2018

Not

21 Nis 2018

Not

this might also look like a distribution, as the upper resistance level was tested multiple times , but recently after such tests, there is a lower low being made and each lows are appearing in good volume....

A close watch must be kept...
if the current resistance is not broken upwards then there is a high chance of retes of support, we will have to watch the vols on the support retest again...