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!!