FAIRCHEMOR
Analysis! FAIRCHEMOR Analysis on Daily Timeframe!
Rounded Bottom Pattern Formation(Rare Pattern) in FAIRCHEMOR!
Rounded Bottom Pattern with RSI and Volume Analysis!
FAIRCHEMOR has made ROUNDED BOTTOM PATTERN on a Daily timeframe. It was in a Downtrend before. It has made a bottom and reversed with Rounded Bottom Pattern. RSI is also in Trending upwards and taking support on Support trendline. If we see volume at the bottom, it diminished at the bottom but during this price was trading within a range. We can expect further upmove in FAIRCHEMOR if the daily candle breaks and closes above 1365.15.
There has been a gradual shift from a downtrend to an uptrend; there may be a sharp rally ahead. The Rounded Bottom represents a slow and gradual reversal of the trend from down to up. We can expect the Turnaround in FAIRCHEMOR .
Thank You!
Entry = Above 1365.15 but candle needs to be closed above it.
Stop Loss = Below 1140
Targets = 1) 1693.25 2) 1904.80 3) 2082.50
Disclaimer = All my analysis are for Educational Purpose only. Before entering into any trade - 1) Educate Yourself 2) Do your own research and analysis 3) Define your Risk to Reward ratio 4) Don't trade with full capital
Avinash K.