5 Top Stocks That Trade Close Their Breakout Level




oi-Roshni Agarwal


There are stocks that based on some of the factors get close to their breakout level. The technical term breakout level is a level in the stock price movement wherein movement beyond that specific price shall trigger a short term rally.

It can also be defined as the price movement in an asset beyond its support area or below its resistance zone.

To identify the breakout, there may be volume build up in the stock. Also at the same time there is an enhanced degree of volatility in such stocks.

Here traders employ technical indicators including trend lines for identifying possible resistances. Notably stocks moving out of the resistance and having experienced long consolidation phase will typically show a higher upmove.

5 Top Stocks That Trade Close Their Breakout Level

StockCurrent market priceKey price level
Page Industries44983.945600
Cholamandalam Investment741.75750
Bharat Electronics239.6243
Bharat Dynamics716.15740

Key level in breakout stocks is tbe level at which the stock may experience increased buying or selling pressure. Indeed traders look for these levels to put their bets around those levels. This then increases volatility and price moves when the price scales to those levels.


Story first published: Sunday, April 10, 2022, 4:18 [IST]


Source link