ALKYL AMINES CHEM. LTDEducation
Alkyl Amines - Descending Channel
A descending channel is a chart pattern which indicates a downward trend in a stock price. Visually, a descending channel angles downward, from a high point to a lower point.
It is drawn by connecting the lower highs and lower lows of a security's price with parallel trend lines. This should have at least 2 resistance and 2 support zones to establish a channel-like pattern
Usually traders wait for a breakout to signal an entry point, which is when the stock price breaches an established channel's boundaries, either on the upper or lower side.
Target - Target could be placed at a recent high, Since this type pf chart pattern may have multiple lower highs. One could look for a lower high with good consolidation. This is where most buyers would be stuck and may want to exit as soon as the stock price reaches that price. For example: Below mentioned is one such price zone.
CMP 2124
TGT 3203 (50%)
⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️
It is drawn by connecting the lower highs and lower lows of a security's price with parallel trend lines. This should have at least 2 resistance and 2 support zones to establish a channel-like pattern
Usually traders wait for a breakout to signal an entry point, which is when the stock price breaches an established channel's boundaries, either on the upper or lower side.
Target - Target could be placed at a recent high, Since this type pf chart pattern may have multiple lower highs. One could look for a lower high with good consolidation. This is where most buyers would be stuck and may want to exit as soon as the stock price reaches that price. For example: Below mentioned is one such price zone.
CMP 2124
TGT 3203 (50%)
⚡️Disclaimer: Any of my posts should not be considered as a Buy/Sell/Hold recommendation. This analysis is for educational and learning purpose only⚡️
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.