Andhra Petro - Cup & Handle - Fibonacci Tool
Andhra Petro is making a cup and handle pattern. A breakout will take the price to 186 as the first target. Other factors:
1. Using the Fibonacci tool, we can see the price has crossed its 50% resistance. Ideally, once price again moves above 38.2% is considered to be an entry point. However, given other factors, an entry can be made.
2. Volumes has increased considerably
3. RSI is above 60 showing bullish momentum
4. MACD is becoming positive
"Clean Charts, Easy Charts"
Learning & Earning!!!
Cheers!!
1. Using the Fibonacci tool, we can see the price has crossed its 50% resistance. Ideally, once price again moves above 38.2% is considered to be an entry point. However, given other factors, an entry can be made.
2. Volumes has increased considerably
3. RSI is above 60 showing bullish momentum
4. MACD is becoming positive
"Clean Charts, Easy Charts"
Learning & Earning!!!
Cheers!!
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