Top 4 Breakout stocks for tomorrow | Multiyear Breakout Stocks | Breakout Stocks | 18.07.2024

Introduction

Welcome back to my channel, everyone! In this article, we will discuss four remarkable stocks that have shown a strong resistance breakout on the daily time frame. We can expect significant momentum in these stocks in the upcoming days. I will provide a detailed analysis, including proper entry points, stop-loss levels, and target prices. Additionally, we will review some previously recommended stocks that are currently trading around our profit levels.

Before we dive in, I'd like to remind you that we regularly share small cap stock picks on our YouTube channel. We also have a free group where I address your stock queries through videos. If you want to clear any doubts about stocks and learn technical analysis for free, you can join our group by following the link in the description box of the video.

Recent Successes

A few days ago, I analyzed the daily time frame of Ever AD Industries India Limited. I recommended buying this stock around ₹77 after it retested the breakout level. Within a day, the stock showed a momentum of over 5%, and we made significant returns. Our ultimate target is ₹441, which is likely to be achieved within the next three to four days.

Another stock I previously recommended is Alpha Jioit.ril. After its breakout, I advised entering upon a retest. The stock consolidated for four days but eventually hit our target of ₹511, yielding a return of 19%.

Kilos Electric Company Limited was another stock that initially showed good momentum but eventually declined close to our stop loss before rebounding and hitting our target of ₹245. We will book partial profits and set a trailing stop loss for the remaining quantity to secure our gains.

Current Retests

Guy Katex Garments Limited: I shared its analysis when the stock broke out of its resistance zone. Today, it retested the level around ₹25, and you can enter at this price. The stop loss is ₹23 on a daily closing basis, and the target is ₹280.

Wakan Engineers Limited: This stock also retested today around ₹39. Entry should be planned around ₹39 as the price is currently the same. Set a stop loss of ₹37 on a daily closing basis, with a target of ₹993.

Amans Limited: This stock created an Ewers and Shoulders pattern before giving a breakout. The retest level is around ₹147. Enter around this price, set a stop loss at ₹133, and aim for a target of ₹183.

Fresh Breakouts

On Mobile Global Limited: A good consolidation period created a resistance zone, and after testing it five times, the stock gave a breakout today. Plan to enter around ₹884 during a retest. Stop loss should be ₹852, and the target is ₹1240.

Sadhna Nitro Cam Limited: This stock formed a Cup and Handle pattern and broke out today. Wait for a retest around ₹74.5 before entering. The stop loss is ₹65.5, with a target of ₹96.

Sharda Crop Cam Limited: The stock broke out after multiple resistance tests. Plan to enter around ₹466 during a retest. The stop loss will be ₹432, and the target is ₹574.

Everest Kanto Cylinder Limited: The stock broke out from a significant falling trend line. Enter around ₹457 during a retest, with a stop loss of ₹432 and a target of ₹574.

Keywords

• Breakout Stocks
• Daily Time Frame
• Proper Entry and Stop Loss
• Resistance Breakout
• Retest Levels
• Stock Analysis
• Technical Analysis

FAQ

Q: What is a breakout stock? A: A breakout stock is one that moves above a resistance level or below a support level with increased volume, indicating strong momentum.

Q: How do you determine entry points for breakout stocks? A: Entry points are usually determined at or near retest levels, based on technical analysis performed on the daily time frame.

Q: Why is it important to set stop losses? A: Setting stop losses helps in managing risk by limiting the potential downside if the stock moves against your position.

Q: What should I do after the stock reaches the target? A: It's generally advisable to book partial profits and set a trailing stop loss to protect gains while allowing for further upside potential.

Q: How can I learn technical analysis for free? A: You can join our free group through the link provided in the video description, and also subscribe to our YouTube channel where we share regular updates and analysis.