PEL Descending Triangle Pattern
Updated
PEL has broken out from a descending triangle pattern in daily chart. The stock is at a strong support in the weekly zone.
The breakout is supported by huge volume surge that can be seen more clearly in the 60 minutes timeframe.
A long can be initiated with a stoploss below the trendline as shown in the chart.
The breakout is supported by huge volume surge that can be seen more clearly in the 60 minutes timeframe.
A long can be initiated with a stoploss below the trendline as shown in the chart.
Trade closed: target reached
2.4 Risk Reward achieved
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