HEG | Structural Strength Emerging
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HEG | Structural Strength Emerging
HEG is a leading manufacturer of graphite electrodes, a critical input for steel production. With metals demand expected to improve, the company stands to benefit from a cyclical upturn in the steel value chain.
From a price-structure perspective, the stock is showing constructive signs. Multiple open vertical counts project potential towards 1000 and 1300. The recent negation of a bearish anchor column further strengthens the bullish setup.
Traders and investors can keep HEG on their radar and align positions as per their individual systems, as long as the stock holds the key level of 454 on a closing basis.
Not a recommendation.
Nishesh Jani,CFTe
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