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Technical Stock Idea: Private Client Group
Technical Stock Idea: Private Client Group
CMP
127
Recommended Action
Buy between CMP & 117
Targets
150,165
SL*
Time Horizon
112
1-2 Months
Note: * Place stoploss as per daily closing basis. Recommended to stagger buying/selling. If first target achieved, then revise
stoploss to buying/selling price.
Bullish MACD
Bullish RSI
Technical Evidences
Stock price has broken out from the consolidation range 110-125, holding for last 18 Weeks.
Stock has surpassed the crucial resistance of its 50 week moving average, placed at 125.
Primary trend of the stock has been bullish with higher bottoms on weekly charts.
MACD Oscillator has been trading above signal line and now on the verge of surpassing equilibrium line on
the weekly charts
RSI has reached above the benchmark level of 50 on the weekly charts, indicating strength in the counter.
Considering the technical evidences discussed above, we advise buying the stock between CMP and 117, for
the upside targets of 150 and 165, keeping stop loss at 112 on closing basis.
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