DISHTV broke out of its cup and handle pattern on the weekly chart in Sep'21. The stock has completed the Breakout-retest-continuation cycle and is now expected to continue in the direction of the breakout with measured move and 200WMA as price target of 27. Stop loss if the stock breaches 16.
Trade closed: stop reached:
The stock is not showing strength and the price broke the 16 zone. Although we can still see a wick and it has not closed below 16. Best to book loss here and wait for the price action to develop further.
