This stock has been in a downtrend since it was listed. Do not know the reason why but now it is reversing with multiple indications.
1st view of breaking trendline:-
Multiple rejections from the trendline and finally broke the downtrend after a long long time.
2nd View of a chart pattern:-
A inverse head and shoulders pattern has also been broken comfortably with good volumes.
3rd view as a whole:-
In this chart i tried to show complete view of the identification of this trade and reasons behind them.
On the main graph it has tested its resistance numerous times. and has made higher lows along in the journey.
Breakout is with good volumes too. So it adds another strong point as people are ready to buy it even at higher levels.
I hope all this effort does not go in vain and someone will understand and learn something out of it .
Cheers and Happy Learning.
1st view of breaking trendline:-
2nd View of a chart pattern:-
3rd view as a whole:-
On the main graph it has tested its resistance numerous times. and has made higher lows along in the journey.
Breakout is with good volumes too. So it adds another strong point as people are ready to buy it even at higher levels.
I hope all this effort does not go in vain and someone will understand and learn something out of it .
Cheers and Happy Learning.