Chart Check: Tube Investment breaks out from a cup pattern; fresh record highs likely to continue in July

July 3, 2023

Tube Investments, an auto component company, has seen a 13% increase in its stock price in a month. Experts suggest that the stock could reach the level of Rs 3,700 due to a breakout from a cup pattern on the weekly charts. Short-term traders are advised to buy the stock now or on marginal declines. The stock is currently trading above the neckline of the cup pattern and is supported by various moving averages. The Relative Strength Index (RSI) and MACD indicators are also positive.

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