Probable downward move.
● Abbot have fallen below secondary trend support (rising wedge)
● A head &shoulder formation and probable downside target of 27000 which is support of primary trend line.
●An immediate resistance 27378, i.e weekly candle has not closed below this price for past 20 weeks.
Therefore a weekly close below 27378 might indicate a increasing probability of downside move following the micro down trend.
Study purpose only.
Its always beautifull to see a stocks behavior with probablity mindset.
● A head &shoulder formation and probable downside target of 27000 which is support of primary trend line.
●An immediate resistance 27378, i.e weekly candle has not closed below this price for past 20 weeks.
Therefore a weekly close below 27378 might indicate a increasing probability of downside move following the micro down trend.
Study purpose only.
Its always beautifull to see a stocks behavior with probablity mindset.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.