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SWING IDEA - FIVE STAR BUSINESS FINANCE LTD

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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

코멘트

Made a high of 13%++

코멘트

we can add quantity at 770 levels

코멘트

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

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

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Accumulate !

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hold!