Aniketyourtechnicalanalyser

Amber enterprises showing false breakout?

Short
NSE:AMBER   AMBER ENTERPRISES
Amber enterprises showed a breakout yesterday and many buyers entered here because of the breakout
But do you know it's a false breakout?
lines reference:
dark blue-resistances
cyan blue-supports
yellow-both acting as support and resistance .
Guys please first like and comment :)
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Ok...Now I was telling that amber enterprises has shown a false breakout because:
1) the stock form Abandoned Baby bearish candlestick pattern which forms only on a false breakout and doesn't form on a true breakout.
2) the stock came in overbought zone.
3) Although the stock breaked all the resistances but the resistances are so strong that they are pulling the stock to the consolidation channel.
4) The stock also made a new resistance here after this false breakout.
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Alert for you guys :)
please do like and comment as I give you profitable Ideas :)
Comment: double top formation today.
now it's sure that it's false breakout
Comment: double top really affected the stock and pulled it in a strong downtrend.
guys my another successful trade was done here for you :)
my all trades are going successful.you can follow me for profits :)