MCDOWELL_N
Stock -> United Sprits (McDowell)
TimeFrame -> Weekly
Hello all!
United Spirits had been moving in a Symmetrical triangle pattern since 2012. It finally broke out of it 9 years later in September 2021 post which it started moving in a flag and pole pattern. After a year in October 2022, it broke out of its flag. This makes for a good opportunity to go long!
The confluence of two bullish breakouts combined with support from 50-week EMA and both 200 and 50-day EMA further strengthens my conviction.
Risk to Reward ratio also seems decent.
*NOT A CALL*