Ultratech Cement Triangle Breakout Pokes The Bulls

On the daily chart, the stock has witnessed a smart upside breakout from the triangle pattern  witnessing a good increase in volume and strong bullish candle.

The overall trend is primarily bullish but the stock has been sideways movement since 2017. The recent breakout might to take the stock on new all-time high.

In addition, price have closed above the higher range of the Bollinger band, indicating a trending up-move after in recent consolidation. Apart from this, it is trading above all key moving averages of 21, 50 & 200-day SMAs.

The support on the lower side is pegged at 3800 level while on the upside hurdle is seen at 4900 level.

For the past few weeks, peer stocks are seeing impressive moves and the above technical setup suggests the stock is gearing up for a strong move in the near term.

Related Terms

Do you like Videos?

We got many concepts been explained in video format. You may like it!

An investment in knowledge pays the best interest.

— Benjamin Franklin

Feel Free to Ask Us

We wish to work more closely with our community. If you want us to share our insight on trading and investing, feel free to as us.

Do you wish to invest in stock market?

Stay Informed with EQSIS Tools and Services

Stock Market Training

3 days classroom traing + 30 days online practice. Here you can learn from basics to advance concept.

Intraday Scanner

We have best in-class intraday scanner which helps you in stock selection.

Follow Us

You can joins us using your prefered social network