inverted head and shoulders pattern formation in stock
price is resisting at neck line of head and shoulder pattern once price breaks this resistance of supply zone price expected to move upward
Stock successively running in down trend making lower higher and lower lows
but here trend is trying to change where it created peak of low and reverse back and again try down attempt but its over in small move price changes to up side and creating higher high and higher lows
this is how head and shoulder formation created.
Price down by 5 times when it comes to supply zone but this time at supply zone price not getting down but also sustaining at it higher level so we can see buyers are winning over sellers will see breakout once price breaks the blue zone drawn on chart
price is resisting at neck line of head and shoulder pattern once price breaks this resistance of supply zone price expected to move upward
Stock successively running in down trend making lower higher and lower lows
but here trend is trying to change where it created peak of low and reverse back and again try down attempt but its over in small move price changes to up side and creating higher high and higher lows
this is how head and shoulder formation created.
Price down by 5 times when it comes to supply zone but this time at supply zone price not getting down but also sustaining at it higher level so we can see buyers are winning over sellers will see breakout once price breaks the blue zone drawn on chart
Trade closed: target reached:
Stock is 10% up now made high of 719.40