LovUAli

Inverted Head and Shoulder Chart

Long
BSE:FINOLEXIND   FINOLEX INDUSTRIES LTD
Likely to reach 780 level and more.

Pros: Trading nears its all time high, has registered a good result in last quarter and more over Pvc pipe has observed hike in their price during last month.

Comments

Hello good work, but brother inverted head and shoulder is always formed in the bottom. The rest of you are doing good work.
+2 Reply
LovUAli ChartsNovel
@chartsNovel i m unable to reply you on comment box, so updating my view here . First thank you for pointing it out. It would be good if you provide any link which validate your claim about formation of inverted head and shoulder at bottom only. I revisited investopedia web portal but didn't find any such thing. My Personal view is that inverted head and should is represent the consolidation phase of any stock and once the price break the neck link it gives bullish signal. I had traded such chart recently in Bajaj steel as well, which works fine. Let's see what's it transpire for this one.
Reply
@LovUAli, great work dear. For me this is base for long term consolidation at 610-625 levels. I am hopeful for, 4 digital.
+3 Reply
Priyanka_cute ChartsNovel
@ChartsNovel, Hi, actually its not necessary
+1 Reply
nice trading setup 👌👌☺
+1 Reply
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