GTPL Rounding Bottom formation Logn Term

Jan 25, 2024

GTPL

What is Rounding Bottom ?

A rounding bottom is a chart pattern used in technical analysis and is identified by a series of price movements that graphically form the shape of "U".

Note: Rounding bottom looks similar to cup and handle pattern, but does not experience the temporary downtrend of the handle portion.

3 Phases of Rounding Bottom
1. Sharp Price Decline
2. Bottom
3. Sharp Price recovering

Trader should use other indicators for confirmation of the trade as it is not guarantee to go with sync.

CMP : 201.70

Target : Idealy Top of Sharp Price decline

Breakout: After breakout price will move further upside.