Inverted Head & Shoulder Chart Pattern - Vodafone Idea (Daily)
Updated
Inverted Head & Shoulder Chart Pattern
Vodafone Idea ( Daily timeframe )
Target is 20.9 (i.e. depth of the head when placed on expected breakout point of 13.85 on the neckline of inverted head & shoulder)
It has entered the 5th wave ( Elliott Wave Count)
MACD is in positive crossover state above the zero line of the histogram
Histogram has solid green bar formations
RSI is above 60 and Stochastic (14,3,3) is in positive crossover state too
+DI is above the -DI in the Directional Movement Index (DMI)
ADX is well above 15 (indicating momentum speed)
On the weekly tide chart too, all indicators/oscillators are favourable
Vodafone Idea ( Daily timeframe )
Target is 20.9 (i.e. depth of the head when placed on expected breakout point of 13.85 on the neckline of inverted head & shoulder)
It has entered the 5th wave ( Elliott Wave Count)
MACD is in positive crossover state above the zero line of the histogram
Histogram has solid green bar formations
RSI is above 60 and Stochastic (14,3,3) is in positive crossover state too
+DI is above the -DI in the Directional Movement Index (DMI)
ADX is well above 15 (indicating momentum speed)
On the weekly tide chart too, all indicators/oscillators are favourable
Note
This chart pattern was posted when the stock was at 12.80 It has progressed to 16.4 in 6 days
It is moving towards the projected target
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