Flag/Pennant Breakout !

213 4
The stock is clearly in strong uptrend. Recently it has formed a perfect Pennant pattern and gave breakout yesterday with good volume by closing above the pattern high. The pattern looks promising moreover this small pattern gives fast result. One can enter the long now or on small pull back for a target of around 900.

Disclaimer : All stock recommendations and comments are my personnel view. please take financial consultancy for trading decision.
Trade active
Trade closed: stop reached
Comment: It was not moving as expected after flag breakout so close the trade with small loss.
Don't you think RSI between 70-80 shows overbought for Mindtree ?
@riyankok, Good observation but it is normal for Flag pattern moreover in uptrend even without this pattern stock may remain in overbought zone for some period.
+1 Reply
riyankok praveen.bhatiya
@praveen.bhatiya, Dont you think sell on rise will be good strategy
@riyankok, Frankly speaking I don't think much, if i see a pattern/setup i act upon it as recommended. It is also true that all patterns fail including Flag but that risk is part of the game.
+1 Reply
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out