Welplace Technical Analysis:Ready for Another upmove

Welplace has been on fire from past 3 weeks, We covered this stock 2 time when it was trading around 25, Stock gave a decent move and now is trading around 37. As per classical technical analysis, What goes Higher will keep going higher till the trend reversal. Stock has been doing the same, Goes up — Consolidates — Goes Up


Welplace Daily Channel


Stock has been trading in a daily channel, which has resistance around 42-44 range. So we can expect to go towards that level.


Welplace Elliot Wave




As per Eliiot wave Analysis Stock can move towards 45-46 odd levels.


Welplace Weekly


Weekly is also forming higher high on Weekly Chart, suggesting Uptrend can continue and we can see explosive move in coming 2-3 weeks.

Traders can go long above 38.-38.5 for a target of 44/46  SL of 35


This is not an investment pick  as I am not expert in Fundamental analysis but a short term pick for gain of 10-20% purely based on Technical Analysis.Please also do your own study before trading this stock and trade in small quantity.

One Comment

  1. OM said:

    Welplace rock on thanks

    July 18, 2016

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