Dow Jones Index hitting take profit soon 📈

Hello, good day traders! 👋🤙

📰Fundamentally,

- The stock market rally had a huge week, with the Nasdaq boasting its best weekly gain since March and S&P 500 having its biggest increase since June.

- The major indexes surged Thursday on a Fed-friendly inflation report.

- On Friday, a shift away from defensive names intensified, with many medicals and other defensive or defensive growth plays falling sharply.

- While buying opportunities in leading stocks are limited, investors should be looking to add exposure gradually.

🤔On the technical front,

1.) Looking at the H4 chart, price has tapped into our buy entry at 31834.12, where the 38,2% Fibonacci line is located.

2.) I have a pretty safe stop loss set at 30635.76 where the 23.6% Fibonacci line is located.

3.) I am looking to take profit at 34281.36 where the previous swing high is located.

Buy Entry: 31834.12📈

Take Profit: 34281.36 💲

Stop Loss: 30635.76❌