Ugar Sugar Stock Breakout – 2 Powerful Indicators!

macd price pattern stocks Mar 21, 2022
Price Pattern, Ugar Sugar, MACD

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Sugar stocks are currently in huge demand due to benefit of global and domestic factors. Ethanol blending with fuel across India is expected increase to 8.3-8.5%. GOI plans to increase this blend rate to 20% across India by CY25, post which the demand for ethanol is expected to increase substantially.

It is possible to capture massive moves in stocks using price patterns and simple indicators like the parabolic SAR and MACD. Check out how we selected UGARSUGAR which have rallied 26% in few trading sessions.

Look at the below chart of UGARSUG published in the Equity research report on 10th March 2022 morning before markets opened – "The Financial Waves short term update"

UGAR SUGAR Daily chart as on 10th March 2022 (Anticipated)

UGAR SUGAR Daily chart as on 21st March 2022 (Happened)

Wave analysis as published on 10th March 2022

Anticipated: On the daily chart, in the previous session prices formed a bullish candle. Price has closed above 55 levels which confirms the breakout of rounding bottom pattern. MACD is above 0 and on Tuesday the MACD line crossed above the MACD signal line which indicates that bullish momentum has increased in this stock and may continue in the coming session.

In short, trend for this stock is positive. Use dips towards 55.5-55.9 as buying opportunity for a move towards 62.5-63 levels as long as 53.5 holds on the downside.

Happened: After we published the report, the stock made a high of 71.50 levels exceeding our target of63! Giving more than 26% move in a short span. This analysis of patterns combined with indicators can help in gauging the directional moves.

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