SUPREMEIND – Massive Move by Combining Rounding Bottom with KST
May 09, 2024
Sometimes simple price pattern along with price indictors creates wonder if one combines it together! See by yourself how we identified such a massive move in SUPREMEIND using KST (Know Sure Thing).
One can effectively capture significant movements in stocks. See how we chose SUPREMEIND, a stock that has increased by over 15% in short span of time, especially when market is choppy.
We published the following research on SUPREMEIND pre-market on 30th April 2024 in "The Financial Waves Short Term Update” which our subscribers receive pre-market every day.
SUPREMEIND Daily chart Anticipated as on 30th April 2024
SUPREMEIND Hourly chart Anticipated as on 30th April 2024
Wave Analysis as on 30th April 2024
SUPREMEIND has been moving higher recently and intact in strong uptrend. In the previous session it closed with a gain of 14.21%.
On the daily chart, in the previous session prices formed a bullish candle. Price has closed above 4750 level which confirm breakout of the rounding bottom pattern. KST has turned above signal line and also trading above the zero line which is a positive sign. We can expect good momentum to continue in this stock.
As shown on the hourly chart, we have applied parabolic SAR which used to determine the price direction as well as draw attention to when the price direction is changing. A series of dots placed below the price which is deemed to be a bullish signal. Closest support is placed at 4650.
In short, trend for this stock is positive. Use dips towards 4850-4900 as a buying opportunity for a move towards 5450-5500 levels as long as 4650 holds on the downside
SUPREMEIND Happened as on 9th May 2024
Happened: The stock moved as we anticipated. SUPREMEIND have given breakout of Rounding Bottom with good volumes. After a dip, prices showed a sharp rise and achieved our target of 5500 and made high of 5538 on 7th May 2024 which is more than 15% from the dips in just 5 trading sessions.
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