riyankok

BIOCON LONG

Long
NSE:BIOCON   BIOCON LTD
Everything on charts

W shaped chart pattern and stock price at the Neckline level ready for breakout above 640

For 655+ levels buy
Trade active

Comments

Shouldn't W pattern be formed after a downtrend at the bottom as it signals a reversal of the downtrend into an uptrend. Price may still go up my comment is only for the pattern.
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riyankok praveen.bhatiya
@praveen.bhatiya, Then what type of pattern is in biocon?
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@riyak, Descending Triangle that works as a continuation pattern, What do you think?
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riyankok praveen.bhatiya
@praveen.bhatiya, Agreed, Thanks for sharing the knowledge
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@riyankok, It's my pleasure. We are learning together. :)
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riyankok praveen.bhatiya
@praveen.bhatiya, I think on Monday it will indicate its final move, If it goes upward then it will break new highs and if it forms bearish bar then we can expect downtrend. What's your call?
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