JETAIRWAYS weekly chart study - Megaphone pattern
Disclaimer: The projections are purely based on the past behaviour at various levels and duration taken to make certain retracements. No advanced/complicated theory from aeroplane science used here.
Disclaimer: The projections are purely based on the past behaviour at various levels and duration taken to make certain retracements. No advanced/complicated theory from aeroplane science used here.
Comment:
Excellent move so far! Was expecting a reversal from 250-275 zone and I was planning to add more to my long position at the megaphone bottom again. However jet airways broke out of the range and we can expect 400 in coming days.
Comment:
Wait for a pull back as mentioned before accumulating more
Comment:
Pull back towards the megaphone bottom in progress.
Keep accumulating on dips
Keep accumulating on dips
Comment:
Jetairways moving exactly as per our analysis.
Let's buy on dips towards the megaphone bottom
Let's buy on dips towards the megaphone bottom
Published this analysis onOct 11 when Jetairways was at 191 and projected a path towards 250-275 zone within Dec 03 week and this has been achieved so far.
We need to wait and watch to see if a pull back occurs so that we can add more to the position for long term positional trade.