This stock has formed a pattern called Double Bottom, providing a target price for the intermediate-term in the range of 87-89.
The price recently crossed above its moving average signaling a new uptrend has been established.
It appears that the price of DBRealty has reached a low point and then rebounded, indicating a potential reversal of its downward trend towards a new uptrend. This can be further confirmed by observing the Double Bottom chart pattern, which consists of two distinct lows occurring at roughly the same price level during a downtrend. As the pattern forms, there is typically a decrease in selling pressure, indicated by a decrease in trading volume. Finally, when the price breaks above the highest high point between the two lows, it confirms a bullish signal for the asset's future direction.
Note for everyone who came across this study:
This chart is only for educational purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
The price recently crossed above its moving average signaling a new uptrend has been established.
It appears that the price of DBRealty has reached a low point and then rebounded, indicating a potential reversal of its downward trend towards a new uptrend. This can be further confirmed by observing the Double Bottom chart pattern, which consists of two distinct lows occurring at roughly the same price level during a downtrend. As the pattern forms, there is typically a decrease in selling pressure, indicated by a decrease in trading volume. Finally, when the price breaks above the highest high point between the two lows, it confirms a bullish signal for the asset's future direction.
Note for everyone who came across this study:
This chart is only for educational purpose.
This is not buying or selling recommendations.
I am not SEBI registered.
Please consult your financial advisor before taking any trade.
Trade closed: target reached
Target achieved!!
Hardeep S Singh Sethi
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.
Hardeep S Singh Sethi
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.