Pokarna :205 seems to be nearing a strong support level. But Indicators are still showing weakness, expect to find a support around 194 level, Is a good stock to have in one’s portfolio, to find a target 260 _320 and more in coming years.
This looks like an H&S, but don’t worry, it doesn’t qualify an head & shoulder, as a Head and shoulders patterns appears on top of a bullish move, here such big move is not seen, the volume is not supporting, and the neck line is almost flat.
Prices movement are the result of a continuous game of tug of war, whether a stock's price goes up or down is the direct result of how many people are on each side. Those who believe in up moves are called bulls, and those who believe downward journey are called bears. . If more people are bullish, then the price will go up as new investors buy in to take advantage of the opportunity and If more bears are in market, then its price will go down as they sell their shares to avoid losing money. Like all charting patterns, peaks & trough of the head and shoulders pattern tell a very specific story about the battle being waged between bulls and bears.
All that psychology is working well here. So if the stock is trading below the neckline for long time, avoid holding it. I believe 194 is an ideal stop.
Prices movement are the result of a continuous game of tug of war, whether a stock's price goes up or down is the direct result of how many people are on each side. Those who believe in up moves are called bulls, and those who believe downward journey are called bears. . If more people are bullish, then the price will go up as new investors buy in to take advantage of the opportunity and If more bears are in market, then its price will go down as they sell their shares to avoid losing money. Like all charting patterns, peaks & trough of the head and shoulders pattern tell a very specific story about the battle being waged between bulls and bears.
All that psychology is working well here. So if the stock is trading below the neckline for long time, avoid holding it. I believe 194 is an ideal stop.
Comment:
This achieved the first target ...awaiting the second target 320